2005 (8) TMI 750

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....ER 1. These appeals are directed against the adjudication order No. DD/105/BZ/BAN/2003/FERA/VS dated 29-10-2003 passed by the DeputyDirector, Enforcement Directorate imposing a consolidated penalty of Rs. 1,50,000 on appellant-company and its two Directors Shri Rajesh Adani and Saurin Shah jointly and severally for contravention of section 8(3) and 8(4) read with section 64(2) of FERA, 1973 and ....

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.... record without further waiting. 2. The above adjudication proceeding was initiated by issuance of SCN dated 21-5-2002 asking the appellants as well Shri Anil Lohia, proprietor of M/s. Pioneer Business Enterprises requiring them to explain as to why adjudication proceedings as contemplated under section 51 of FERA, 1973 should not be held against them for contravention of provision of section 8(3....

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....ellant-company and its two Directors. Therefore, the order of the adjudicating authority cannot be sustainable. The order is incapable of execution and/or impermissible in law. In other words when more than one person is liable to penalty jointly and severally then it is impossible to say how the person is liable to suffer with definite certainty in consequences of default. It is an accepted propo....