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2013 (11) TMI 861 - HC - FEMAViolation of Sections 8(1) and 8(2) of the Foreign Exchange Regulation Act, 1973 - Confiscation of foreign and Indian currency - Tribunal sustained the confiscation of Foreign Currency but the confiscation of Indian Currency and Indira Vikas Patra Certificates was set aside - Bar of limitation - Held that:- The writ application is disposed of by directing the concerned respondents to forthwith refund the proceeds of the Indira Vikas Patra along with further interest that might have accumulated thereon within a fortnight from the date of communication of this order. The Indian Currency and the balance penalty deposited by the petitioner shall also be refunded to the petitioner along with interest as per Section 42 sub-section (3) of the FERA, within the aforesaid period - The petitioner having unnecessarily been dragged to this Court shall be entitled to the costs of this proceedings assessed at 300 GMs to be paid to the petitioner along with the amounts refundable - Decided in favour of appellant.
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