Court : Appellate Tribunal for foreign Exchange New Delhi
..... enforceable agreement with the foreign supplier, that the agreement had specific stipulation about the quality of white peas to be supplied, that it was the foreign supplier's obligation under the contract to ensure that the consignment of white peas would conform to the contracted quality at the time of receipt of the consignment by the appellant, that at the time of receipt of consignment, the white peas supplied by the foreign supplier did not conform ..... it appears that the memorandum of appeal as initially filed was not in proper form and was not accompanied either with the evidence of pre- deposit as required under section 52(2) of the act or any petition for waiver in accordance with rule 6a of the adjudication proceedings and appeal ..... it is judicially settled that in the case of a breach of contract, the aggrieved party has only the right to the claim damages or compensation; it does not have a right to any definite sum unless the party admitting the breach on its part has agreed to ..... evidence of any of these elements, the appellant could not have legally contended that there was a breach of contract on the part of the foreign supplier. ..... the appellants obviously related to purported breach of their contract with the foreign supplier. ..... alone as there is no dispute about the facts relied on by the learned adjudicating officer and the appeals could be disposed of straightaway as the legal position regarding the award of damages in the case of a breach of a contract is well-settled. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... appeals, an application for review is separately filed seeking recall of order dated 11-12-2007 passed by this tribunal whereby these three appeals are dismissed for non-compliance of the pre-deposit order dated 8-3-2004 of this tribunal which is further maintained when challenged before honble high court of rajasthan. ..... as recorded above, the right to appeal is available under section 52(2) fer act, 1973, though circumvented by requirement of pre-deposit of penalty but there is no right to file a review under foreign exchange regulation act, 1973, except that revision is permissible under section 52(4) foreign exchange regulation ..... the appellant had totally failed to comply with the pre-deposit order dated 8-3-2004 nor they opted to make pre-deposit in compliance of that order so dismissal of the appeal by order dated 11-12-2007 ..... the order dated 8-3-2004 rejecting partly the respective application for dispensation of pre-deposit as well as dismissal of the appeal by order dated 11-12-2007 cannot be termed as an order bearing an error apparent on the ..... also, the factual scenario does not permit review of pre-deposit order dated 11-12-2007 or order dated 8-3-2004 because they fall outside and not covered under the grounds of review which are ..... by second proviso, this tribunal empowered to dispense with pre-deposit of penalty either conditionally or unconditionally on the grounds of ..... the savings is not restricted to the executed contracts or goods imported but also saves the legal .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... the appellant has pre-deposited the amount of penalty of rs. ..... it is well-settled under law of contract that an offer can be revised but such revision can only be achieved through an express statement. ..... the respondent may appropriate the pre-deposited amount of rs. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... the rbi has granted write off or extension of time which has yet to expire or where the goods were not received by the foreign buyer; he may come to the conclusion that the adjudication proceedings would be pre-mature as in the case where the rbi is considering the application for write off or extension of time; he may be of the opinion that the noticee has taken such steps to realise the proceeds of exports as, in the facts ..... sarvesh chandra, chairman - this appeal together with the application for dispensing with the requirement of pre-deposit of penalty has been filed against adjudication order no. ..... in the premises, we decided to waive the requirement of pre-deposit and proceed to dispose of the appeal by this final order. 4. ..... in respect of next 2 gris the goods were received by the foreign buyer but he refused to make the payment on the ground that the consignments were not as per the contract. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... already stated in the manual, that the working group has been constituted by the reserve bank of india for the purpose of giving package approvals for proposals submitted by exporters of various overseas contracts, that working group has representative from rbi ecd and iecd, exim bank, cgce, concerned parties and their bankers, that powers have been delegated by the reserve bank of india to ..... was stated that he has been shareholder since 1961-62 and that he was posted to london on companys business for performing the specific duties of the business of the company when the company obtained a sub-contract for the baghdad university project and was permitted to open an office in london; that he continued to be a director and shareholder during his stay in london; that he was posted to london office ..... that the learned adjudicating officer seriously erred in rejecting appellant companys submission that all their actions in regard to the overseas contracts investigated by enforcement directorate had been subject to the supervision of working group and monitoring of reserve bank through fortnightly returns that ..... the project as conveyed by the idbi under their letter dated 17-7-1981 which contains the sanction for payment of ageneys commission up to maximum of 2 per cent of the contract value subject to the condition that the agency agreement is furnished to it and found satisfactory. ..... parties, we decided to waive the requirement of pre-deposit in all the cases and proceeded to hear .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... according to learned counsel, the appellants have made their pre-deposit of their respective penalty and these appeals are required to be heard on merits. ..... as per the evidence on record, the payment is required to be made for the contracted goods by the appellants but due to pendency of rbis permission such payment is made by m/s. ..... basanti devi [1999] 8 scc 229 at 240, this court stated the law, thus : formation of the contract of insurance is between lic and the employee of desu. ..... for creating a contract of agency, in view of section 185 of the indian contract act, even passing of the consideration is not necessary. ..... the pre-deposit amount can be adjusted towards penalty by enforcement directorate. ..... if the employee had reason to believe that his employer was acting on behalf of the corporation, a contract of agency may be inferred. 29. ..... kaiser engineers international usa is not appointed by appellants using express words as agent but such appointment by express words is not necessary under the provisions of section 185 and section 187 of indian contract act. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... in the dispensation application, the appellant have sought waiver of pre deposit of penalty on the ground of strong prima facie case and the balance of the convenience in their favour as well as financial difficulties in pre depositing the amount of penalty as the business of the appellants firm has been badly shattered. 2. dr. ..... facts and the circumstances of the case as well as the amount of penalty involved, i do not consider it just and proper to remand the case back to the adjudication officer for re-adjudication and therefore, dispense with the pre deposit of the penalty and proceed to take up the appeal for consideration on merits. 4. ..... the new buyer having waited for long, cancelled the contract ultimately on account of non-receipt of necessary documents from the appellant through their banker. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... the full dispensation of pre-deposit of penalty is granted due to lapse of this long period and the matters are taken up for hearing on merits. 4. ..... having contracted to pay the difference arisen out of the alleged over-invoicing separately, is itself a violation of provision of the act. ..... appellants are directed to deposit the penalty amount in the manner prescribed in the impugned order within 15 days from the date of receipt of this order failing which the respondent may recover the same in accordance with law.
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... 2,50,000 by way of pre-deposit. ..... the foreign buyer has held back the amount, according to the appellants, on account of the defects in supplies under another contract. ..... 113,86,510 to the same party under another contract. ..... the first appellant has already deposited an amount of rs. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... the application for dispensation from pre-deposit of penalty was decided by this tribunal vide its order dated 20-10-1987 against which a writ petition was filed by the appellant in high court of madras where the order was set aside by order dated 20-2-1997 ..... from perusal of adjudication order it is clear that the advocate of the appellant stated before the adjudicating officer that there was a recruitment contract between the appellant and mohd. ..... he himself entered into a contract with mohd. ..... the appellant is directed to deposit penalty amount of rs. .....
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