https://www.taxtmi.com/caselaws?id=790814 In proceedings concerning non-realisation of export proceeds, delay and laches were rejected because the enquiry depended on correspondence with the authorised dealer and the Reserve Bank, and the company's own recovery efforts meant time could not run only from the last export shipment. The outstanding export proceeds were accepted at Rs. 1.8 crores, but no write-off or settlement by the Reserve Bank was proved. The Tribunal found that partial correspondence and visits were not reasonable steps to repatriate the dues, upheld penalty only against the promoter-managing director, exonerated the legal heir and the other directors for lack of evidence of responsibility, and reduced the penalties on the company and the liable director. en-us Thu, 23 Apr 2026 00:00:00 +0530 Fri, 01 May 2026 10:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790814 In proceedings concerning non-realisation of export proceeds, delay and laches were rejected because the enquiry depended on correspondence with the authorised dealer and the Reserve Bank, and the company's own recovery efforts meant time could not run only from the last export shipment. The outstanding export proceeds were accepted at Rs. 1.8 crores, but no write-off or settlement by the Reserve Bank was proved. The Tribunal found that partial correspondence and visits were not reasonable steps to repatriate the dues, upheld penalty only against the promoter-managing director, exonerated the legal heir and the other directors for lack of evidence of responsibility, and reduced the penalties on the company and the liable director. Case-Laws FEMA Thu, 23 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790814