2025 (8) TMI 14

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....ty General Manager of Andhra Bank (now Union Bank of India) for contravention to the extent of Rs. 2,01,70,260/- the provisions of Section 10(4) & Section 10(5) of FEMA, 1999, read with the directions contained in the A.P. (DIR Series) Circular No. 20 dated 25.10.2004. 2. As per the facts of the case, information was received by ED vide letter dated 06.12.2013 from the Ministry of Information & Broadcasting, Government of India, New Delhi, to the effect that certain companies had hired transponders of foreign satellite, but had not sought permission to remit foreign exchange from the Ministry of Information & Broadcasting. M/s Positiv Television Pvt Ltd (PTPL) was one such company, which was having six channels namely, NE Television, NE Ba....

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....ection 10(4) of FEMA inadvertently and requested for a lenient view. A list of remittances made by HDFC Bank was furnished along with documents. Subsequently, Summons was issued to Shri Kuldeep Rawat, Branch Manager, Andhra Bank, Patel Nagar Branch, 11/24, East Patel Nagar, new Delhi-110 008 on 14.10.2015, when he informed vide his letter dated 19.10.2015 that forex transactions are done by Andhra Bank, M-35, Connaught Circus Branch, New Delhi. Accordingly, Summon was issued by ED to Shri LN Rath, OGM, Andhra Bank, Connaught Circus branch, New Delhi on 20.10.2015. Statement of Shri Laxminarayan Rath, Deputy General Manager, Andhra Bank, Connaught Circus, new Delhi was recorded on 27.10.2015, wherein, he stated that Andhra Bank had not tak....

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....lite by PTPL. Remittances made by Positiv Television Private Ltd. towards hiring charges of transponders of foreign satellite through Andra Bank: Sl. No. Amount remitted in FC Date of remittance Amount in INR Name of the beneficiary 1. USD 146400 07/30/12 8133984 Measat Satellite Systems 2. USD 219600 12/17/12 12036276 Do     Total 20170260   There is no approval from the Ministry of Information & Broadcasting for sending remittance towards hiring charges of transponders of foreign satellite through Andhra Bank in contravention of RBI Circular No. 20 dated 25.10.2004, hence the said Bank committed the contravention of Section 10(4) and Section 10(5) of FEMA, 1999 to the extent of Rs. 2,01,70,260/-. Accor....

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....ovisions of Section 10(4) & 10(5) of FEMA, 1999 read with the directions contained in the A.P. (DIR Series) Circular No. 20 dated 25.10.2004 to the extent of Rs. 2,01,70,260 in terms of Section 42 of FEMA, 1999, and thus, liable for penalty under Section 13(1) of FEMA, 1999. Accordingly, the Adjudicating Authority imposed the penalty upon the present appellant to the extent of Rs. 10,000/- (as mentioned in para no. 1 above). Aggrieved by the said order, appellant filed the present appeal. 3. After hearing both the sides, the contravention on the part of erstwhile Andhra Bank Ltd. is not disputed. The main issue involved in the case is that whether the appellant was working in Connaught Circle Branch of the erstwhile Andhra Bank Ltd. (now....