1999 (2) TMI 730

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....directed against Adjudication Order No. Addl. (APK)/111/93, dated 25-8-1993 under which a penalty of Rs. 2,50,000 has been imposed on the appellant for contravention of section 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 ('the Act'). The charges are based on the allegation that the appellant had paid a sum of Rs. 64,583 to Gurpal Singh (whose real name is alleged to be Surinderpaul ....

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....ine of Rs. 8,000 and imprisonment till the rising of the Court; that the appellant had already paid the fine as recorded in that judgment of the learned ACMM. Shri Puri submitted that in view of the fact that the appellant had already pleaded guilty before ACMM, he would not contest the findings of the adjudicating authority but he would strongly plead for waiver or reduction of the penalty amount....

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....h and Surinder Singh who would have been benefited by the contravention of the Act. Shri Puri pleaded that in the circumstances, the appellant does not deserve any further penalty. Since Shri Puri pleaded for reduction of the amount of penalty, I decided to waive the requirement of the pre-deposit. I proceed to dispose of the appeal by this final order. 3. Shri A.C. Singh, ALA of the departm....

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....uantum of penalty. I find that the amount involved in contravention is Rs. 64,583 only and in the circumstances in which the contravention has allegedly occurred, the penalty of Rs. 2,50,000 as imposed under the impugned order is, in any case, excessive. The quantum of penalty has to be determined keeping in view the facts and circumstances of each case. In my view, the circumstances as brought ou....