1995 (12) TMI 437

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....cted against the Adjudication Order No. ADJ/9B/DD/RAJ/1995, dated 10-1-1995 (despatched on 14-2-1995) under which a penalty of Rs. 75,000 has been imposed on the appellant for contravention of section 9(1)(d) of the Foreign Exchange Regulation Act, 1973 ('the Act'). The appellant is stated to have deposited the amount of penalty, this order disposes of the appeal on merits. 2. One of the ground....

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....r receipt of payment by the appellant. There is no discussion in the impugned order as to how the charge of making payment of Rs. 5,50,000 is found to be substantiated. Apparently, the charge is based on the retracted confessional statement of the appellant to the effect that he received a sum of Rs. 5 lakhs from NRE account of Raji Menon and in lieu thereof paid an amount of Rs. 5,50,000 through ....