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2005 (7) TMI 736
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....DER 1. By this appeal the appellant has challenged the Adjudication Order No. ADJ/55-56/B/SDE/SKP/ 2004/1187, dated 19-2-2004 passed by Special Director, Enforcement Directorate imposing a penalty of Rs. 2,06,70,000 on the appellant company for alleged violation of provisions of section 8(3) read with 8(4) of Foreign Exchange Regulation Act, 1973 for the reason of not submitting proof of import....
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....tries of remittances the appellant is required to explain. The Canara Bank has issued a letter dated 8-4-2004 (p. 13 of record) where three entries are stated which are also described in SCN-2 and in paragraph 1 of the adjudication order. The Canara Bank has stated that they "have now received documentary evidence of import from Bee Electronic Machines Ltd." for the three remittances. There is ano....