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2012 (11) TMI 921 - HC - FEMAWrit petition – maintainability of appeal – penalty under Section 13 (1) of the FEMA - contravention of the provisions under Section 6 (3)(j) of the Act – alleged that petitioners offered personal guarantee for a loan amount of US$ 13.5 Million to a resident outside India without obtaining prior permission from the Reserve Bank of India – Held that:- Liability of the appellant is not created under any common law principle but, it is clearly a statutory liability and for which the statutory remedy is an appeal under Section 35 of FEMA, subject to the limitations contained therein - writ jurisdiction under Article 226 should not have been invoked without availing the alternative remedy provided under Section 128 and 129A of the Customs Act for the reason that the appellate authority under the statute is vested with the power to appreciate the factual aspects and the petitioner can very well establish his right before the said authority - in fiscal matters, there should not be short-circuiting of the statutory remedies- writ petition is not maintainable and accordingly, the same is dismissed
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