2003 (5) TMI 540

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.... 1. Heard Shri Mahendra Singh, Counsel for the appellant and Dr. Shamsuddin, DLA for the respondent. This is an appeal against the order of 19-9-2000 passed by the Asstt. Director of Enforcement whereby the appellant has been ordered to pay penalty of Rs. 10,000 for contravention of section 9(1)(b) and 9(1)(d) of FERA, 1973 and further Rs. 5 lakhs seized from the premises of the appellant has been....

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....been falsely implicated in the above case. I further state that I do not know any person by name Hyder Ali. I state that the statement recorded by your Officers on 23-6-1999 is not voluntary. I retract from the same. I pray for release of my money i.e. Rs. 5 lakhs at the earliest. Thanking you, Yours faithfully, Sd/- (Mohan Lal)" 3. In the first statement the....

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....in Naresh Sukhwani v. Union of India [1996] SCC (Cri) 76 wherein it was held that if the co-accused in his statement inculpates not only himself but also another person that such evidence is admissible. I am, therefore, satisfied that the order holding the appellant guilty of contravention is not invalid. Penalty of Rs. 10,000 is not very severe but confiscation of entire amount of Rs. 5 lakhs can....