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1987 (5) TMI 337 - SC - FEMAWhether the word "whoever" in sub-section (1) of section 23 of the Foreign Exchange Regulation Act, 1947, before its amendment by Act XXXIX of 1957, denoted only a natural person and an association of persons, such as a firm, would not fall within the connotation of the word "whoever"? Held that:- Appeal dismissed. The initiation of adjudication proceedings for failure to repatriate foreign exchange on shipments of manganese ore prior to September 20, 1957, the date when the Amendment Act came into force, was permissible.
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