2011 (1) TMI 1236

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....R The following order is delivered by Justice Subhash Samvatsar, Chairperson, Appellate Tribunal for Foreign Exchange : 2. This appeal is preferred by the Appellant, Shri Sham B. Bhatia, Director of M/s. Lan Eseda Industries Ltd. challenging the order dated 28-10-1993 passed by the Deputy Director, Enforcement Directorate, Mumbai in case No. ADJ/223-B/DD/RAJ/93 whereby the Deputy Director h....

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....n issued by Reserve Bank of India, he has to surrender foreign exchange within 90 days from the date of return. 3. The Directorate of Enforcement after adjudication found that a Notification No. FERA/73/88-RB, dated 27-2-1988 was issued which provides that unutilized foreign exchange can be surrendered by person within 90 days from the date on which he comes to know that such foreign exchang....