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2019 (6) TMI 78 - AT - CustomsPenalty u/s 112 of the Customs Act, 1962 - Directorship in two companies simultaneously - diversion of PVC-resins - HELD THAT:- The present appellant resigned from directorship of both the companies in April-June, 2004, on coming to know of the nefarious activity and intention of Mr. Vinod Kumar Bansal. Further, the Addl. DGFT, New Delhi have in appellate orders, mentioned hereinabove, ordered deletion of name of this appellant from the adjudication orders, with respect to the disputed “Advances Authorisation Licenses”. Further, the adjudicating authority have not found complicity on the part of the present appellant. Rather it is the finding that Mr. Vinod Kumar Bansal in collusion with Mr. Vinod Kumar Garg of Veekay Poly Coats Ltd., imported and diverted the PVC-resins, in violation of the conditions of the Advance Authorisation Licence. This appellant, being an employee, only accepted directorship of the two companies under instructions of his employer, and was not personally involved. The penalty under Section 112 is reduced to ₹ 50,000/- - appeal allowed in part.
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