2003 (4) TMI 612

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....2000 in adjudication proceedings - File No. T-4/52-B/93. The appellant challenges the findings and orders of penalty passed against him whereby he was found contravening section 8(3) and 8(4) of FERA, 1973 (hereafter referred to as "the Act" for short): the appellant was also imposed with penalty of Rs. 6,00,000. 2. This appellant was the 2nd respondent among the six respondents in the ....

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....also perused the entire records. 5. The points:-- The counsel for the appellant submits that there is absolutely no material to substantiate the charges levelled against this appellant and so the finding of the adjudicating authority is thoroughly illegal. It is further submitted on behalf of this appellant that there is no iota of evidence of any attempt for such remittance of money abroad or of....

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.... the Bank, it is not the duty of the said person to monitor the use or misuse of such accounts. No doubt, introducing a person means only formal introduction regarding the identity of the person; there is no instance of impersonation or fraudulent representation leading to any statutory violations. As rightly pointed out by the counsel, the respondent/Enforcement Directorate has not established th....