2025 (9) TMI 196

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....st the order No. ADE/SRO/CEZO- II/07/2020 dated 18.02.2021 passed by the Adjudicating Authority, whereby penalties were imposed on the respondents as under: (i) On Ms. V. Sundari, Proprietrix of M/s. Agna Xport, a penalty of 9,00,00,000 (Rupees Nine Crores Only) was imposed, for contravention of the provisions of Section 3(b) of FEMA, 1999 to the extent of Rs. 17,56,17,255/-. (ii) On Ms. V. Sundari, Proprietrix of M/s. Agna Xport, a penalty of Rs. 9,00,00,000 (Rupees Nine Crores Only) has been imposed for contravention of the provisions of Section 10(6) of FEMA, 1999 read with Regulation 6(1) of Foreign Exchange Management (Realisation, Repatriation and Surrender of foreign exchange) Regulations, 2000 to the extent of Rs. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....trix of M/s Agna Xport could not be traced and summons sent by ED were received back unserved. As all the above mentioned outward remittances were affected against the receipt of amounts through various RTGS into the current account of M/s Agna Xport, banks were directed to provide details of remitters of the RTGS. The banks provided the details of the 29 remitters who funded through RTGS from various parts of India, which are mentioned in para 6 of the impugned order. The said details also include Respondent No. 2 to 4. Summons were issued to the said remitters to get the details and whereabouts of Ms. V. Sundari Proprietrix of M/s Agna Xport. Out of 29 remitters, 26 remitters could not be traced, however, remaining three remitters (her....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t of M/s Agna Xport. Respondent No. 3, Shri Dalip Srivastava, Proprietor of M/s. D.K. Enterprises made the contravention of the provisions of Section 3(d) of FEMA, 1999 to the extent of 1,40,91,000/-, by transferring the said amounts into the account of M/s Agna Xport. Respondent No. 4, Shri Sashank Srivastava, Proprietor of M/s. S.S. Trading, made the contravention of the provisions of Section 3(d) of FEMA, 1999 to the extent of Rs. 1,47,00,000/- by transferring the said amounts into the account of M/s Agna Xport. Respondent No. 1 could not be traced during investigation and was not found available at all the given addresses. She filed false and fabricated import documents in the bank to show imports. Respondent No. 2 to 4 failed to reveal....