1999 (10) TMI 769

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....s directed against the Adjudication Order No. ADJ of 1979/B/SDE/PKA of 1996, dated 15-10-1996 (despatched on 12-12-1996 under which a penalty of Rs. one lakh has been imposed on the appellant for contravention of section 18(2) of the Foreign Exchange Regulation Act, 1973 ('the Act'). The appellant has filed a petition for waiver of pre-deposit. In support of the waiver petition, the appellant has ....

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....ving a balance of Rs. 74,000 still remaining outstanding. As regards 4 GRIs at Sl. Nos. 3, 4, 5 and 6, Annexure A, namely, GRI Nos. AA-632920, AC-261956, AC-306582 and AC-261886, he found that the entire amount had been realised, though after a delay of over 3.5 years. In respect of the remaining GRIs at Sl. Nos. 1 and 2, namely, Nos. GL-579631 and GL-465506, he found no evidence of realisation of....

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....e been realised, though late. 5. As regards the question of late realisation I find that while determining the quantum of penalty, the learned Adjudicating Officer has observed as under : "However, considering the sincere efforts made by the noticee in pursuing with the different authorities abroad, to realise the major portion of the outstandings, I take a lenient view. . . ." 6. I....