Court : Appellate Tribunal for foreign Exchange New Delhi
..... the appellant has challenged this order mainly on the basis of the ruling of the honble high court of kolkata in tarak nath v. ..... he relied on the ruling of the supreme court in standard chartered bank v. ..... t-4/105-m/88 (scn-ix) for contravention of provisions of section 8(1) of the act to the extent of rs. ..... t-4/105-m/88 (scn-viii) for contravention of provisions of section 9(1)(c) of the act to the extent of rs. ..... t-4/105-m/88 (scn-vii) for contravention of provisions of section 18(2) of the act to the extent of rs. ..... t-4/105-m/88 (scn-vi) for contravention of provisions of section 8(1) of the act to the extent of rs. ..... t-4/105-m/88 (scn-v) for contravention of provisions of section 9(1)(c) of the act to the extent of rs. ..... t-4/105-m/88 (scn-iv) for contravention of provisions of section 18(2) of the act to the extent of rs. ..... t-4/105-m/88 (scn-iii) for contravention of provisions of section 8(1) of the act to the extent of rs. ..... t-4/105-m/88 (scn-1i) for contravention of provisions of section 9(1)(c) of the act to the extent of rs. ..... t-4/105-m/88(scn-i) for contravention of provisions of section 18(2) of the act to the extent of rs. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... on the ground that the appellant company was not an industrial company within the meaning of section 3(1)(e) read with section 3(1)(f) of the sick industrial companies (special provisions) act, 1985 (hereinafter referred to as sica) and the company, therefore, does not fall under the definition of the sick industrial company in terms of section 3(1)(o) of sica. 2. ..... one year, the company had not been employing 50 or more workers and as a result it did not fit into the definition of 'factory' as given under the idr act; (c) the bifr has held that the company had not stated anywhere in form a that its closure was temporary nor did the factories ..... of a sick industrial company under section 3(1)(o) of sica : (a) it should be an industrial company; (b) it should be a company registered for not less than five years under the provisions of the companies act, 1956; and (c) its accumulated losses should be equal to or exceed its entire net worth at the end of any financial year. ..... authority to approach the honble madras high court for filing an application under sections 391-394 of the companies act, 1956 (companies act) for sanction of a scheme of arrangement or compromise with respect to the depositors of the sick company ..... that case to the applicant to approach honble high court of punjab and haryana for formulation and sanction of a scheme of arrangement under sections 391-394 of companies act for reasons contained therein, relying upon the judgment of the honble supreme court in ngef v. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... in opposition to this argument learned senior counsel has failed to remember that the genesis of origin and outflow of love and affection for gifting away any valuable property under section 122 of property act or section 25 contract act, 1972 is required to be proved by the appellant. ..... this court took note of the provisions of section 106 of the evidence act and laid down the following principle in paras 31 to 34 of the reports : the pristine rule that the burden of proof is on the prosecution to prove the guilt of the accused should not be taken as a fossilised doctrine as though it admits no process of intelligent reasoning. ..... anjali verma, the adjudicating authority exonerated the person who took gift cheques from the charges of contravention of fer act and such exoneration order attained finality when not been challenged by enforcement directorate. 3. ..... on the other hand, if the traditional rule relating to burden of proof of the prosecution is allowed to be wrapped in pedantic coverage, the offenders in serious offences would be the major beneficiaries and the society would be the casualty. ..... presumption of fact is a rule in law of evidence that a fact otherwise doubtful may be inferred from, certain other proved facts. ..... the doctrine of presumption is not alien to the above rule, nor would it impair the temper of the rule. ..... this is a fundamental rule relating to proof in all criminal or quasi-criminal proceedings, where there is no statutory provision to the contrary. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... view which has been taken with regard to confessions made under provisions of section 67 of the ndps act and other criminal enactments, such as the customs act, 1962, has been that such statements may be treated as confessions for the purposes of section 27 of the evidence act, but with the caution that the court should satisfy itself that such statements had been made voluntarily and ..... the definition of "a person resident in india" and "a person resident outside india" as couched by legislature are found in section 2(p) and 2(q) foreign exchange regulation act, 1973, which brought out below :- "section 2(p) "person resident in india" means - (i) a citizen of india, who has, at any time after the 25th day of march, 1947, been staying ..... ) 3 scc 721 where the hon'ble supreme court observed as follows :- "it would thus be seen that there is no prohibition under the evidence act to rely upon the retracted confession to prove the prosecution case or to make the same basis for conviction of the accused. ..... it cannot even be laid down as an inflexible rule of practice or prudence that under no circumstances can such a conviction be made without corroboration, for a court may, in a particular case, be convinced of the absolute truth of a confession and prepared to act upon it without corroboration ; but it may be laid down as a general rule of practice that it is unsafe to rely upon a confession, much less on a retracted confession, unless the court is satisfied that the ..... 950:1972 scc( .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... sde/krb/vi/11/2000 dated 13th october, 2000, passed by special director, enforcement directorate, under section 52(4) foreign exchange regulation act, 1973, exonerating the respondents herein from the charges of contravention of sections 18(2), 18(3) and 68 foreign exchange regulation act, 1973, without any proof of taking reasonable steps for repatriation of export proceeds when an amount of us dollars 3,53,77,745 of export proceeds is still unrealised. 3. ..... after issuance of show cause notice, the adjudication proceedings were started when special director, enforcement directorate, acting as adjudication officer stated that no case is made out against the appellant (who now are respondents) but since the respondents undertake to repatriate export proceeds after reduction of price if provided or allowed by rbi, the adjudication ..... additionally, the points relating to applicability of the andhra pradesh assigned lands ( prohibition of transfers) act, 1977, and even if it is held that the act was applicable , the reasonableness of the time during which action should have been initiated were also not considered. ..... . the rule 8 of foreign exchange regulation rules, 1974 provides that the amount representing the full export value of goods exported shall be realized and be paid to the authorized dealer, on the due date for payment or within six months from the date of ..... state of orissa (1972) 83 itr 26 (sc), (2) carras co. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... that according to his instructions, it was the second appellant whose name was included in the said list and he was the person who was acting on behalf of the company for the purposes of the licence and he alone can be held responsible if there is contravention of any of the ..... (2) notwithstanding anything contained in sub-section (1), where a contravention of any of the provisions of this act or of any rule, direction or order made thereunder has been committed by a company and it is proved that the contravention has taken place with the consent or connivance of, or is attributable to any neglect on the part of, any ..... follows from the distinction hereinbefore indicated between the two sub-sections, that while determining the liability under sub-section (2) one has to see what the alleged contravening act is and then to examine whether the role allegedly played by the person proceeded against as manager, etc. ..... (1) where a person committing a contravention of any of the provisions of this act or any rule, direction or order made thereunder is a company, every person who, at the time of contravention was committed, was incharge of, and was responsible to, the company for the conduct of business of the company as ..... the question arises as to whether there is any evidence of act or omission on the part of the first appellant which may amount to his consent or connivance in the said contravention or the said contravention may be ..... mehta air 1972 sc 2162 as referring to one who is .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... it cannot even be laid down as an inflexible rule of practice or prudence that under no circumstances can such a conviction be made without corroboration, for a court may, in a particular case, be convinced of the absolute truth of a confession and prepared to act upon it without corroboration; but it may be laid down as a general rule of practice that it is unsafe to rely upon a confession, much less on a retracted confession, unless the court is satisfied that the retracted confession is true and voluntarily made and has ..... order to be assured of the truth of confession, this court, in a series of decisions, has evolved a rule of prudence that the court should look to corroboration from other evidence. ..... the facts and circumstances emerging from the evidence adduced make it reasonably probable that the confession could be the result of threat, inducement or pressure, the court will refrain from acting on such confession, even if it be a confession made to a magistrate or a person other than a police officer. ..... leading to discovery of a fact which is dealt with under section 27 is an exception to the rule of exclusion of confession made by an accused in the custody of a police officer. ..... pc is at salutary provision which lays down certain precautionary rules to be followed by the magistrate recording a confession so as to ensure the voluntariness of the confession and the accused being placed in a situation free from threat or influence of the police. ..... 1971] 3 scc 950 : 1972 scc (cri. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... the foremost contention raised by the appellant is that the adjudicating proceedings were initiated in violation of the immunities granted under the immunities act and for that reason the entire proceedings leading to the passing of the impugned order are illegal and liable to be set aside. 9. ..... 186 of 1996, that in both cases the cheques were issued from the said nre account of vinod goel/cirila goel; that both the appellants in their separate statements recorded on 27-3-1995 under section 40 of the act stated that they had purchased the said 5 nre cheques from sanjiv goel; that they had made a payment of rs. ..... we are of the view that having regard to the provisions of the immunities act and the scheme made there under and the object and purpose for which that law was enacted by parliament, it has been rightly contended by shri singh, the learned counsel for the appellants, ..... it would, therefore, follow that parliament, while enacting the law, was conscious of the fact that but for the immunities to be provided under the act, the receipt of remittances of foreign exchange sought to be secured may not be legal. ..... his argument is that remittance has to be from nre account maintained under the rules made under the act. ..... (b) defines remittance to mean, inter alia, remittance made in foreign exchange by any person resident outside india to a person resident in india, inter alia, by way of transfer from non-resident (external) account maintained in india under the rules made under the act. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... permission of the reserve bank is sought for as contemplated by section 12(2), the reserve bank will take up the follow-up measures to find out whether doing or refraining from doing any act by the person who seeks permission is genuine and bona fide or whether it is intended only to get over the obligations he had undertaken by giving the necessary declaration in the g.r.i ..... the rbi is sought, it will not be able to take up the follow-up measures to find out whether doing or refraining from doing any act by the person who seeks permission is genuine or bona fide or whether it is intended only to get over the obligations. ..... senol and his two brothers did not succeed as they claimed that they had not acted on their own behalf while placing the order with the appellant-firm, but on behalf ..... the foreign buyer within six months from the date of the said shipments or the time extended by the rbi in the prescribed manner and thereby contravened the provisions of section 18(2) of the act read with the central government notification no. ..... -cause notice was issued to the appellant, alleging that during the year 1972, the appellant s. ..... brothers had floated the firm, they cannot be said to be mere agents acting on behalf of mrs. ..... for violation of the provisions of section 18(2) of the foreign exchange regulation act, 1973 ("the act"). 2. ..... the appellant had a right to receive, and thereby contravened the provisions of section 12(2) and section 10(1) of the foreign exchange regulation act, 1947. 5. .....
Tag this Judgment!Court : Appellate Tribunal for foreign Exchange New Delhi
..... the court further observed that such an act need not be the penultimate act towards the commission of it but it must be the act during the course of committing that offence. 16 ..... for the court observes : the test for determining whether the act of the appellants constituted an attempt or preparation is whether the overt acts already done are such that if the offender changes his mind and does not proceed further in its progress, the acts already done would be completely harmless... (at p. ..... the appellant might well have intended to receive the money on the instructions of the said nagappan and even made preparations for that purpose, the acts attributed to him fall short of an attempt to receive payment. 18. ..... doubt, he had intended to receive the money, but the question would still remain as to whether the overt acts attributed to the appellant would constitute an attempt. 14. ..... see no reason for not accepting the correctness of the facts contained in the appellants statement of 14-11-1972 made to the enforcement officers. ..... under sub-section (2) of section 52 of the act, an appeal is required to be filed within 45 days from the date on which the order is served on the person committing the ..... chairman - this appeal arises out of an order passed by the learned deputy director of enforcement, madras, finding the appellant shri valliappan guilty of an attempt to contravene the provisions of section 5(1)(aa) of the foreign exchange regulation act, 1947 and imposing on him a penalty of rs. .....
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