2021 (10) TMI 1131

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....yril Amarchand Mangaldas, AOR's and M. Jayakumar (Official Liquidator), Mukul Rohatgi, Sr. Advocate, Ms. Anuradha Dutt, Pawan Sharma, Suman Yadav, Haaris Fazili, Chaitanya Kaushik, Ms. Priyanka M.P., Ambar Bhushan and Shobhit Ahuja, Advocates, for the Petitioner. Shri N. Venkataraman, Vikramjit Banerjee, ASG's, B.V. Balaram Das, AOR, S. Udaya Kumar Sagar, Merusagar Samantray and M.K. Maroria,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ny at the relevant time, which is allegedly involved in the commission of Foreign Exchange Management Act (in short 'FEMA') violations. If that is so, the petitioner cannot be compelled to pay pre-deposit amount even if he is driven to file the statutory appeal. 5. Considering the arguments on both sides, in our opinion, for the stand taken by the petitioner, we direct the Appellate Authorit....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the entire limitation period be reckoned by the Appellate Authority. 8. The Special Leave Petition is disposed of accordingly. 9. Pending applications, if any, stand disposed of. SLP (C) No. 18742/2019 10. The application (I.A. No. 26937 of 2021) seeking permission for discharge of Cyril Amarchand Mangaldas, Advocate-on-Record for the petitioner from the present proceedings is a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....te Authority may proceed with the appeal on its own merits in accordance with law and not non-suit this petitioner on ground of limitation as the petitioner has been bona fide pursuing remedy against the show cause first before the High Court and also before this Court. 18. It will be open to the petitioner to file a formal application before the Appellate Authority for granting exemption fr....