1995 (12) TMI 431

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....iled to realise the proceeds of exports covered by GRI No. 821196 of the value of DM 12,512.65 equivalent to Rs. 76,609.10. The case has been taken up for disposal in pursuance of the directions made by the Hon'ble Allahabad High Court in W.P. No. 28394 of 1995. After hearing the parties on the facts, the charge of contravention of section 18(2) cannot be made. I, therefore, waive the requirement of pre-deposit and proceed to consider the appeal on merits. Hence, this final order. 2. The facts are that the appellant made a shipment of nine rolls of Indian handknotted woollen carpets valued at DM 12,512.65 on 4-12-1986 under the cover of GRI Form No. GB 821196. The shipment was made to Wohnwelt Pallen DeSasperi, West Germany. However, ....

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.... case, is not sustainable either in law or on facts. Since the delivery of the goods exported by the appellant to the foreign buyer had not materialised, there can be no question of realisation of the proceeds of exports of that export. The charge is, therefore, misconceived in law. On facts, it is amply clear that the delivery of the goods to foreign buyer had frustrated due to the action of the appellant's bank in sending the bills to wrong party and their negligence in sending the bills to alternate buyers in due time. The foreign buyers were justified in refusing the bills as it would have involved payment of huge amount towards demurrage, etc. In view thereof, the appellant cannot be blamed for non-realisation of export proceeds. 4.....