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2014 (3) TMI 57 - HC - FEMAReceipt of payment Non-Resident External (‘NRE’) Account from Smt. Sarita Mediratta resident of UK - Making payment to Shri Sunil Narang, a resident of Malviya Nagar, New Delhi on behalf of Smt. Sarita Mediratta - Penalty for Violation of FERA - Held that:- the evidence that has come on record that there is nothing to show that the Appellant made payment of Rs.5.25 lakhs “in lieu/as compensation for” to the credit of Shri Sunil Narang on behalf of Smt. Mediratta. Neither Shri Hari Ram Aggarwal nor Shri Sunil Narang appears to have any nexus with the Appellant as such. He is not shown to have entered into any transaction with R.K. Verma, an NRI whose name finds mention in the adjudication order. The key element for finding that the Appellant violated Section 9 (1) (d) read with Section 64 (2) FERA is missing in the present case. The statement of Shri Narang regarding arranging the NRE draft from his sister’s account does not by any mean implicate the Appellant Suresh Kejriwal. The facts concerning Shri Narang, Shri Aggarwal and their transactions, if any, with Smt. Mediratta cannot be stated to be within the personal knowledge of the Appellant. The so-called admission statement of the Appellant, which was retracted by him, could not be relied upon in the absence of independent corroboration. - Appeal allowed - Decided in favor of appellants.
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