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2012 (5) TMI 69 - BOMBAY HIGH COURTTribunal dismissed the stay Petition for waiver of predeposit of penalty in FEMA appeal – unauthorizedly receipt of payments amounting to Rs.5 Crores on the instructions of persons resident outside India. - Held that:- No case was made out by the Appellant for a complete waiver of the requirement of predeposit under the second proviso to sub section (1) of Section 19 - Tribunal had directed the Appellant to deposit the penalty within thirty days failing which it was stated that the Appeal would stand dismissed - the Appellant had filed writ proceedings before the Delhi High Court and in an appeal therefrom to the Supreme Court under Section 35 - an extension of time of four weeks from the date of order should be granted to the Appellant to affect deposit.
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