2009 (10) TMI 1002

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....n 9(1)(b) of the Foreign Exchange Regulation Act, 1973 for having received amount in Indian currency from a local person under instructions from a person resident outside India, without the permission of the Reserve Bank of India. 3. The application for dispensation from pre-deposit of penalty amount was moved by the appellant along with the filing to this appeal which was heard and finally decided by this tribunal vide its order dated 02.07.2009. The application for dispensation was rejected by this tribunal finding no undue hardship in favour of the appellant. Thereafter two dates i.e. 27.08.2009 & 01.10.2009 have been fixed by this tribunal but the order has not been complied which shows lack of bonafide on the part of the appellant. To....

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....h a deposit either unconditionally or subject to such conditions as it may deem fit." 5. Thus under the statutory scheme the appellant is under an obligation to file appeal simultaneously along with penalty amount unless and until dispensation is granted under Second proviso to Section 52(2) on the application of the appellant after getting satisfied about the prima facie good case and undue hardship of the appellant. While considering the effect of a similar provision dealing with non-compliance of the order passed under Section 129(1) of the Customs Act, 1962 for deposit of the penalty amount, the Hon'ble Supreme Court in Navin Chandra Chhotelal v. Central Board of Excise & Customs and Ors., MANU/SC/0219/1971 held that where pre....