2026 (3) TMI 851

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....pecial Director, Enforcement Directorate, Government of India, Kolkata Zonal Office. The Ld. Adjudicating Authority (AA) imposed the penalty of Rs. 1,00,000/- on the Appellant for the contraventions of Sections 9(1)(b) & 9(1)(d) read with Section 64(ii) of the Foreign Exchange Regulation Act, 1973 (FERA), vide the Impugned Order. 2. Ld. Counsel for the Appellant stated that the Appellant had filed the reply to the Show Cause Notice (SCN) on 30.07.2004 with the handicap of not having been supplied the relied upon documents. He pleaded that the Appellant retracted the statements even while in judicial custody. Ld. Counsel stated that there was no evidence that the Appellant had received payment of Rs. 2,50,000/- from his brother Shri Nitya....

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....ossession the documents were seized which contained certain accounts with codes, while he was riding the scooter No. WB-01-F-1338, was his paid employee and the said scooter, owned by him, was used by his employee Deepak Debnath. Shri Nitya Majumdar (noticee No. 2) also admitted that his employee Deepak Debnath used to maintain his account books relating to hawala transactions and that the documents seized from the person of Deepak Debnath and marked 'A' contained the accounts and names in codes were written by Deepak Debnath as per his instructions. I find that the said seized documents contained few names in code which were decoded by Nitya Majumdar in his the said statements and he disclosed the full names and addresses with tele....

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....d. I find that during the course of investigation searches were conducted at the office of Tea Packs Speciality and M/s. Anup India Ltd. on 04.10.1994 and certain documents were seized. Investigation revealed that one Bijay Kr. Agarwal, who was looking after and controlling the whole business affairs of M/s. Tea Packs Speciality, was involved in over invoicing of export price of tea in respect of exports made by Tea Packs Speciality under secret arrangement and understanding and in collusion with their buyer M/s. Ambee International Pte. Ltd., Singapore and that the said Bijay Kr. Agarwal used to transfer the difference of such over invoiced amounts to Singapore through hawala channel. I also find that as per the arrangement made b....