1992 (6) TMI 188

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....smail, alleging that during second week of June 1986, she, without obtaining general or special exemption from the Reserve Bank of India, had received Rs. 13,000 from a local person other than an authorised dealer in foreign exchange, by order or on behalf of Shri Mohd. Ismail of Saudi Arabia, a person resident outside India and as the said payment appeared to be in contravention of section 9(1)(b....

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....sed is absolutely unreasonable and unjustified; that the appellant is a respectable housewife and is quite ignorant of any foreign exchange regulations and it was the first instance in her life; and that now having been very well apprised of the foreign exchange regulations, she would hereafter strictly abide by the rules as a law-abiding citizen. 3. The appellant, who appeared in person on the d....

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.... parties. The appellant had stated in her statement made before the Enforcement Officer on 17-7-1986 that she had received 'a draft by post' which she deposited with the bank for encashment and that the same was returned by the bank without realisation. The appellant in her reply to the show-cause notice has also stated that she had not encashed the cheque as it was rejected outright by th....

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....sed dealer, which amounted to contravention of section 9(1)(b). There does not appear to be any legal infirmity in the above finding as under section 64(2) of the Act, whoever attempts to contravene or abets any contravention of a provision of the Act shall, for the purposes of the Act, be deemed to have contravened that provision. 6. Coming to the question of quantum of penalty, it may be stated....