TaxTMI 
TaxTMI 
TaxTMI 
2012 (2) TMI 471
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....8(3) of the Foreign Exchange Regulation Act (FERA), 1973. 4. It is the case of the respondent that the Reserve Bank of India, Bangalore vide its letter No. EC.BG.845/EXP/II/R-25/91-92, dated 18-9-1991 informed the Assistant Director, Enforcement Directorate, Bangalore that M/s. Rupani Exports, No. 66, Industrial Layout, Koramangala, Bangalore-34 had not realised the export proceeds amounting to 11,400/- in respect of exports made under G.R. Form No. GM.207456. The Officers of the Enforcement Directorate, Bangalore searched the office premises of M/s. Rupani Exports and the residential premises of Shri Gopal Rupani, Power of Attorney holder of M/s. Rupani Exports at No. 3334, 12th Main, 6th Cross, Hall II Stage, Indira Nagar, Bangalore....
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....had agreed to make the payments in instalments and had given Shri Ashok Rupani in July, 1991, three cheques for £ 1,000 each and one cheque for £ 400; that he had received these payments from his brother and had deposited the same in the bank; that he had moved the Court in London through his brother for further recovery of the amount pending realisation. 5. On the basis of the above allegations, M/s. Rupani Exports, Bangalore were charged under Section 18(2) & 18(3), read relevant Central Government Notification (No. F.1/67/EC/73-1 (GSR-78), dated 1-1-1974 and 1/67/EC/73-3 (GSR-80), dated 1-1-1974, for not realizing the full export proceeds totalling to £ 11,400/- for the shipment of leather gents jackets to M/s. Wo....
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....ers, namely, Smt. Veena G. Rupani, Smt. Jyothi R. Rupani, Smt. Hemalatha Talreja and Smt. Varsha J. Talreja have contravened the provision of Section 18(2) & 18(3) of FER Act, 1973 as mentioned in the SCN dated 18-2-1993 and imposed penalties as mentioned in the impugned order. 9. As it can be seen from the grounds of appeal that there existed no basis for initiation of proceedings based on the material, which were totally incorrect. The Adjudicating Authority has failed to consider the fact that the appellants have produced documents in support of their contention, which was not entitled to be rejected. Hence, there has been a failure of principles of natural justice. They have also raised the plea that the appellant was badly beaten....
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.... impugned order is liable to be set aside on the ground that the same has been based on the uncorroborated testimony of the co-accused. 14. As could be seen from the impugned order Shri Gopal Rupani, M/s. Rupani Exports along with Shri Ram Rupani appeared before the Adjudicating Authority and they were asked whether any reply was furnished, the party Shri Gopal Rupani and Shri Ram Rupani stated that they have not filed any reply to the SCN. However, they have stated that out of £ 11,400/-, an amount of £ 2,400/- was received by cheque and the same was encashed. The appellants were advised to produce the equivalent bank certificate and also a detailed reply within 14 days. M/s. Rupani Exports sent a letter dated 25-2-1995 e....
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....ull export value of the goods subject to such deductions, if any, as may be allowed by Reserve Bank; and (B) in a case falling under sub-clause (ii) of clause (a) of sub-section (1) also that the sale of goods is delayed to an extent which is unreasonable having regard to the ordinary course of trade : Provided that no proceedings in respect of any contravention of the provisions of this sub-section shall be instituted unless the prescribed period has expired and payment for the goods representing the full export value has not been made in the prescribed manner within the prescribed period. 18(3) Where in relation to any goods to which a notification under clause (a) of sub-section (1) applies the prescribed period has expired and p....