TaxTMI 
TaxTMI 
2005 (8) TMI 751
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....vention of section 18(2) of FERA, 1973 (hereinafter referred to as 'the Act'); Rs. 10,000 on Shri Subhash Kapoor (appellant in Appeal No. 217/89) for contravention of section 18(2) read with section 68(1) of the said Act and Rs. 60,000 on M/s. Emkay Fashions (appellant in Appeal No. 233/89) for contravention of section 18(2) of the said Act. The above adjudication proceeding was initiated by issuance of two separate SCNs No. T-4/28-D/84(SCN.I) T-4/28-D/84(SCN.II) both dated 31-10-1984 to M/s. Emkay Fashions (P.) Ltd. and its Director including Shri Subhash Kapur (appellant in Appeal No. 217/89) and to erstwhile partnership firm M/s. Emkay Fashions and its partner Smt. Sushila Rani Malhotra, Smt. Satish Kapoor and Shri Suresh Malhotra asking....
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....ntended on behalf of the appellants that entire amount was realised before the adjudication proceeding was initiated against appellants but due to riots which took place in November 1984 all relevant records were burnt. However, despite specific order of this Tribunal dated 26-8-2002 no evidence could be brought on record except photo copy of one letter dated 10-11-1984 written to SHO, Karol Bagh Police Station. The said letter is self-created document and not supported by any other material evidence. The appellant also failed to produce any record in support of their contention of realisation of 14 GRs from their authorised dealer. As a result the contention of the appellant in this regard has no merit, and is liable to be rejected. 4. Th....
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....he appellants have neither taken any steps for filing suit for recovery of the dues against the foreign buyers nor they have filed any application with the competent authority for recovery of the dues against the foreign firms stated to have become bankrupt. The appellant has also not taken any steps for obtaining permission for write-off by the RBI. The appellants further contended that non-issuance of SCN to Shri Harish Malhotra, Shri Suresh Malhotra, Smt. Sushila Rani Malhotra and Subhash Kapur would amounts to violation of principles of natural justice in the light of decision of Hon'ble Supreme Court in the case of New Samundri Transport Co. (P.) Ltd. v. State of Punjab [1976] 1 SCC 757 and decision of Hon'ble High Court at Calcutta in....