2008 (7) TMI 1121

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....in For the Respondent : A.C. Singh ORDER O.P. Nahar, Chairperson. - These three appeals are filed against Adjudication Order No. ADJ/197/DD(AKL)/B/2004, dated 26-4-2004 passed by Deputy Director, Enforcement Directorate, imposing a penalty of Rs. 25,00,000 against the appellant-company and Rs. 2,50,000 each against other two appellants as Director of the appellant-company for contraventio....

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....no contravention of section 18(2) read with section 18(3) of FER Act, 1973, can be made out. He has filed three letters from Oriental Bank of Commerce. Per contra, Shri A.C. Singh, DLA, contended that the two letters from Oriental Bank of Commerce have described GR Nos. along with amount but third letter only describes GR No. with no mention of the amount involved. This, he controverted the argume....

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....prescribed under clause (a) of sub-section (1), or (b) that the proceeds of sale of the goods exported do not represent the full export of value of the goods subject to such deductions, if any, as may be allowed by the 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 unreas....