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2008 (2) TMI 811 - HC - FEMAStay/Dispensation of pre-deposit - non-compliance with the orders dated 31-5-2005 directing the petitioner to deposit 25% of the penalty within six weeks from the date of the order - Held that:- Both the Tribunal and the learned Single Judge considered not only the aspect of whether or not a prima facie case is made out, but have also considered the financial hardship aspect. The learned Single Judge, on the plea of the appellant, scaled down the penalty amount from 50% to 25% after considering all the facts and circumstances, but the appellant failed to make payment of the pre-deposit amount despite modification of the order and also regardless of several adjournments granted to him for the aforesaid purpose. Having considered the findings recorded by the Special Director, Enforcement, the Tribunal and the learned Single Judge, we do not think this to be an appropriate case where the appellant is entitled to any relief. The appeal has no merit and is accordingly dismissed.
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