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2009 (11) TMI 507 - HC - FEMAWhether there was not an iota of evidence before the Appellate Tribunal to draw the conclusion that at the time when the contravention was committed the petitioner was incharge of and was responsible to the company for the conduct of the business of the company? Held that:- In the present case, the record reveals that this was an admission by the company itself through its Company Secretary in the reply dated 26-3-2001 wherein it was stated that the present petitioner is a director of the company. This was an answer to the specific averment made in the show-cause notice that Shailendra Swarup was incharge of the affairs of the company and responsible to it for the conduct of its business. This finding of the Adjudicating Authority was not faulted with by the Appellate Tribunal and rightly so. Appeal dismissed.
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