TaxTMI 
TaxTMI 
1974 (12) TMI 85
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....d by the Director of Enforcement against the appellants, Desai Chandulal Manilal & Co. for contravening the provisions of section 12(2) of the Foreign Exchange Regulation Act, 1947 ('the Act') read with the relevant Central Government Notification of 22-4-1952. The proceedings were in respect of exports of cotton piece goods made to the United Kingdom. In respect of certain exports of the ....
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.... present consignment is concerned, the learned Advocate admitted that while the goods had originally been sent with bills which provided for delivery on payment, it was subsequently altered at the buyer's request to 'delivery on acceptance'. However, the appellants contended that once they realised that the foreign party did not make the payment as stipulated, all future exports to the....
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....nts contended that this was not correct and produced copies of correspondence exchanged between them and the Indian High Commissioner in London. Since these were the originals of letters issued by the Government of India's High Commissioner, I agreed to allow the appellants to produce them, notwithstanding the objections of Shri Sawant for the Respondent 7. These documents have also been show....
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....r when the parties still continued to have dealings. A part of the amount was also realised by the appellants. 9. In the circumstances, the main basis upon which the director found the appellants guilty, namely that they had not taken effective steps prior to 1970, is not established. 10. It would appear that the appellants had in fact taken reasonable steps to recover the amounts due to them. ....