1999 (7) TMI 716

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....n Order No. DD/SL/JK/2-3/88, dated 13-1-1988 passed by the Deputy Director, Enforcement Directorate, imposing a penalty of Rs. 30,000 for the contravention of section 8(1) and section 8(2) along with confiscation of US $ 6,760, Pound 160, DM 500, FF 200, Tunishin Schilling 2,000 and Yen 1,000 in terms of section 63 of the Foreign Exchange Regulation Act, 1973. 2. A part penalty of Rs. 16,871.85....

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....n currency of US $ 5,000 in the year 1983-84 from a person other than an authorised dealer without any general or special permission of the RBI and thereafter sold the said foreign currency to a person named Pawan Kumar of Delhi on the rate other than prescribed by the RBI; Thereby contravened the provisions of section 8(1) and section 8(2) of the Foreign Exchange Regulation Act, 1973 ('t....

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....e of depositing but could not be deposited due to seizure. Further, there are number of receipts issued from time to time by Punjab National Bank, Srinagar, testifying the deposit of foreign currency by the appellant in his bank account. Had there been any sale of foreign currency, there could not have been the testified deposits because two cannot exist together. Also, the Enforcement Directorate....

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....t and violence on an illiterate appellant without explaining and proving the nature of injury or threat practiced for extracting confession cannot be accepted. 7. Though a large amount of foreign currency has been deposited in the bank in the name of Ismail Arts Emporium, a sole proprietorship, by the appellant, yet this depositing by itself does not detract from the findings of the learned adj....