2003 (10) TMI 701

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.... penalty; the penalty imposed on the firm/first noticee was Rs. 4,00,000, whereas that on the partners was Rs. 40,000 each. The Enforcement Directorate had issued Show Cause Notice to these appellants (noticees in the adjudication proceedings); by virtue of SCN T-4/40/B/SDE/ PKA/96, dated 10-7-1996 in respect of the export proceeds outstanding to the tune of Rs. 27,79,445 under 12 invoices to foreign countries abroad. The appellants had submitted in their reply that the firm had started its business only in 1992 and that on account of certain communal riots during December 1992 to January 1993, they had a lot of problems to arrange shipments of their goods in time and so there was slight set back in the business, besides the plea that the a....

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....e impugned findings and orders sustain in law? 4. I have heard the counsel for the appellant and also the DLA Mr. Gadoo for the respondents. The point: According to the appellants, they had persistently perused the matter by repeated telephone calls and fax reminders to the overseas buyers and so was the entire dues except the sum of US$ 4,400 realised, and even thereafter the appellants had continued their untiresome efforts for realization of the said amount pending the adjudication proceedings. The entire amounts were received ultimately by November 1996; in this context, the appellants also relied on the letter from Vijaya Bank dated 13-11-1996; according to the appellants they had informed their authorized dealers Vijaya Bank vide th....

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....the pleadings set forth in arguments by either side. 5. The records reveal that all the 12 invoices covered by the SCN, six were relating to the export effected in January to September 1993 while the remaining six to February-March 1994. The export by the said six invoices of 1994 was to the foreign buyers by name Courage Sportswear, USA; the total amounts due shown in the SCN in Indian currency was Rs. 25,00,370. In answer to the charge of contravention of section 18(2) and (3), the counsel for the appellants submitted in arguments that it was slightly due to communal riots in Bombay during early 1993 the export made under four invoices was held and had reached the buyer late and the goods were being of seasonal nature the buyer could not....