2011 (1) TMI 1236

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...., ALA, for the Respondent. ORDER 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/D....

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..... He submitted that as per Notification 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....