2009 (8) TMI 708

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....y of present writ petition has challenged order dated 2-7-2008 passed by the Appellate Tribunal for Foreign Exchange disposing of the application for waiver of pre-deposit of penalty amount of Rs. 3,00,000 with the condition that the petitioner will deposit 50 per cent of the penalty amount within thirty days. 2. In 1992, the petitioner had supplied garments to a buyer in Finland vide two invoi....

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....hat the Reserve Bank of India has granted approval to waiver/write off the export proceeds of one of the consignments valued at US$ 5642.50. However, no waiver or write off in respect of the other assignment of US$ 11297.50 has been granted by the Reserve Bank of India. 4. By adjudication order dated 27-10-2004, the petitioner was condemned to be guilty of charges under section 18(2) and 18(3) ....

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....o alleged defects and the same remained at the shipment bonded warehouse at Helsinki, Finland. It is also the contention of the petitioner that keeping in view the legal expenses involved, the petitioner did not initiate any legal proceedings against the foreign buyer in Finland. The petitioner in this connection has also drawn my attention to the write off/waiver granted by the Reserve Bank of In....