Appeal dismissed; penalty under Section 13(1) of FEMA upheld as lawful, not arbitrary or disproportionate.

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....AT dismissed the appeal and upheld the Adjudicating Authority's penalty. The Tribunal found that the AA evaluated evidence and exercised lawful discretion under Section 13(1) of FEMA, which prescribes a maximum penalty up to thrice the sum involved, rather than an obligatory maximum. The appellant failed to demonstrate that the imposed penalty was arbitrary, disproportionate, or that the AA failed to consider material facts; absent such showing, interference was unwarranted. The Tribunal accordingly affirmed the adjudication order in all material respects and dismissed the appeal.....