https://www.taxtmi.com/caselaws?id=108824 Complete waiver of pre-deposit of penalty pending appeal under section 52(2) of the Foreign Exchange Regulation Act, 1973 was refused because the criminal court's acquittal was not binding on the adjudicating authority or Tribunal, though it remained a relevant circumstance. The petitioner's asserted cash liquidity problems and financial hardship justified only a partial relaxation of the pre-deposit requirement. The direction was therefore modified to require deposit of 50% of the penalty and security for the balance. en-us Thu, 12 Sep 2002 00:00:00 +0530 Wed, 04 Apr 2012 10:48:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108824 Complete waiver of pre-deposit of penalty pending appeal under section 52(2) of the Foreign Exchange Regulation Act, 1973 was refused because the criminal court's acquittal was not binding on the adjudicating authority or Tribunal, though it remained a relevant circumstance. The petitioner's asserted cash liquidity problems and financial hardship justified only a partial relaxation of the pre-deposit requirement. The direction was therefore modified to require deposit of 50% of the penalty and security for the balance. Case-Laws Companies Law Thu, 12 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108824