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Showing 81 to 100 of 594 Records

  • 2016 (1) TMI 183

    Importers who had acquired foreign exchange from their authorized dealers for the purpose of imports of specified goods but had failed to submit the Exchange Control copy of Bill of Entry in respect of the relevant imports to their authorized dealers - It has been contended on behalf of the appellant that an amount of ₹ 410,550 US was remitted by IDBI by opening L/C (Letter of Credit). The goods were shipped by the foreign seller and arrive....... + More

  • 2015 (12) TMI 1695

    Guilty of contraventions of Section 8(3) and 8(4) of FERA, 1973 r/w Section 49(3) and 49(4) of FEMA, 1999 - Penalty imposed - whether there has been no lapse/FERA violations on the part of the company and the transactions were wrongly reported in BFE due to oversight of the bankers of the company? - Enforcement Directorate creation - Held that - We see no reason to remand the matter back to Adjudicating Authority at this stage when parties have b....... + More

  • 2015 (12) TMI 1527

    Detention orders under Section 3(1) of the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 - non opportunity to assail the order of his detention - Held that - In the facts and circumstances of the present case, it is apparent, that the order of detention under Section 3 of the COFEPOSA Act was passed on 11.6.1976. Immediately after the passing of the aforesaid order, on the same day, the Government of Gujarat is....... + More

  • 2015 (12) TMI 1294

    Violation of Section 23 (1) read with Section 4 (1) FCRA, 1976 - Petitioner received funds without obtaining prior permission of the Central Government - Held that - Foreign entities through whom such funds were sent were holding the same on behalf of his father. To this effect, Mr. Vipin Khanna made a statement dated 11.07.2006, whereby stated that these funds were sent on his instructions to the petitioner. Moreover, vide statement dated 13.04........ + More

  • 2015 (12) TMI 1245

    Power of court to review and supervise the investigations against the political party - investigations under Foreign Contribution (Regulation) Act, 2010 (FCRA) - Held that - Undoubtedly the Courts, in exercise of their power of judicial review, are entitled to direct investigation into an offence alleged to have taken place, as reiterated by the Constitution Bench in State of West Bengal Vs. Committee for Protection of Democratic Rights West Beng....... + More

  • 2015 (12) TMI 1192

    Validity of detention order - Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA) - Held that - Since the Detaining Authority was represented by the officers at the time of hearing of the petitioner s case before the Advisory Board, the petitioner too was entitled to be represented through legal practitioner. Since no such opportunity was afforded to the petitioner though claimed by him, he was denied an o....... + More

  • 2015 (11) TMI 131

    Bail application - Arrest made without the mentioning of name in FIR - arrest of the applicant without a warrant in a non-cognizable offence - applicant is alleged to have received ₹ 7 crores from one Natural Trading Company and ₹ 6.31 crores from one M/s Gangeshwar Mercantile Pvt. Ltd. without satisfactory explanation - revention of Money Laundering Act, 2002 - Held that - Applicant, at this stage, has failed to satisfactorily establ....... + More

  • 2015 (11) TMI 77

    Confiscation of amount seized from appellant premises - amount was obtained by any unfair means - offence under Section 9(1)(b) of the Act - Held that - It is apparent that the alleged confessional statement dated 30.04.1991, said to have been recorded from the appellant by the Officers of the Directorate of Enforcement has not been corroborated by any independent witness. Further, neither Mohamed Hilal of Kuwait, nor Jahubar Nissar, from whose r....... + More

  • 2015 (11) TMI 28

    Tribunal while directing the petitioner(s) to deposit 15% of the amount of penalty imposed and to furnish reliable security for the balance amount of 85% as a pre-deposit for hearing of the appeal has noticed that the petitioner (s) has an arguable case and it would cause hardship in case the waiver is not allowed, but no case of complete waiver was made out. - petitioner(s) has been required to pre-deposit 15% of the penalty amount as a conditio....... + More

  • 2015 (10) TMI 2684

    Contravention of Sections 7 and 8 of FEMA, 1999 read with Regulations 3, 8, 9 and 13 of Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 involving export value of US 8,67,275.20 - unrealised GRI forms the authorized dealer had not contacted the Enforcement Directorate - Held that - Since a period of almost 15 years has passed since the transactions took place and the RBI permitted authorized dealer to allow write off i....... + More

  • 2015 (10) TMI 264

    Otherwise acquired foreign currencies - Proceedings under FERA, 1973 - holding the currency as owner thereof and handing a part of for safe custody with the appellant s mother and wife - ownership of foreign currencies - validity of statement before income tax authorities - Held that - FERA and the Income Tax Act are two separate and independent Acts operating in two different fields. Therefore, we do not think that the appellants can take advant....... + More

  • 2015 (9) TMI 1494

    Detention order challenged - Held that - The language of Section 5A of COFEPOSA makes it abundantly clear that if the order of detention is made on two or more grounds, the said order of detention shall be deemed to have been separately on each ground and accordingly the detention order shall not be deemed to be invalid merely because one or some of the grounds is or are invalid. In the present case, the bail applications relating to co-accused M....... + More

  • 2015 (9) TMI 1192

    Petitioner challenges at pre-detention stage his detention - Conservation of Foreign Exchange and Prevention of Smuggling Act, 1974 (COFEPOSA) - smuggling of gold. - absence of live link due to time gap between the detention order dated 31st March, 2015 and the occurrence on 7th July, 2014 - Held that - While deciding the issue whether the proposed deteun has absconded, the courts would have to examine the factual matrix. - in the facts of the pr....... + More

  • 2015 (9) TMI 338

    Application filed beyond period of limitation Condonation of Delay Appeal was preferred against final order of Tribunal which was allowed and order of adjudication was quashed Aggrieved by said order of tribunal, appeal was filed before High court which is objected on ground that it has been preferred beyond period of limitation Held that - Apparently, appeal has been filed after inordinate delay of 832 days. - Section 35 of FEMA permits appeal t....... + More

  • 2015 (8) TMI 1381

    Contravention of Sections 18(2) and 18(3) of FERA, 1973 r/w notifications of Central Government dated 1-1-1974 - Held that - Adjudicating Authority was at liberty to appreciate the evidence on record in accordance with law according to its wisdom independently. However, as a principle of law it cannot be said that judgments in all criminal appeals will ipso facto result in quashing the adjudication proceedings under FERA alike disciplinary procee....... + More

  • 2015 (8) TMI 1112

    Money laundering - res judicata in the criminal complaint - Attachment of property - appellant admitted that property is not owned by her but by the company - Held that - The action of attachment is not in relation to a person as such but essentially to freeze the proceeds of the crime. The fact that the respondents could have acted only if there was reason to believe that a person is in possession of proceeds of crime does not mean that the auth....... + More

  • 2015 (8) TMI 1105

    Contravention of Section 18 (2) of the Foreign Exchange Regulation Act, 1973 - non-realization of export proceeds - Held that - Although Section 68 FERA is in the nature of a deeming provision, the proviso thereto contemplates rebuttal of such presumption by a person who is able to show that the contravention took place without his or her knowledge. - memorandum is a cyclostyled form and the averments as regards all the directors is identical. Th....... + More

  • 2015 (8) TMI 236

    Waiver of pre deposit - contravention of Section 3(b) and 6(2) of FEMA read with Regulation 5 of Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 read with para 8 of Schedule I to Regulation 5(1) of Foreign Exchange Management (Transfer of Issue of Security by a person resident outside India) Regulations, 2000 - Imposition of penalty - Amount remitted for franchisee in IPL, reached BCCI through concerns abr....... + More

  • 2015 (8) TMI 187

    Violation of provisions of Sections 47(1) & (2), 9(1)(c) and 8(1) - Permission from RBI for advertisement of Kingfisher brand name on racing cars during Formula-I World Championships - Failure to appear against the summon issued - Held that - Complaint is maintainable if there is default in not carrying out summons lawfully issued. The averments in the complaint show that the summons dated 21st December, 1999 were refused by the appellant and....... + More

  • 2015 (7) TMI 1080

    Locus standi of the Director of Enforcement to maintain the present appeal before this CourT - Unauthorised acquisition of foreign exchange - Tribunal after examining the records, found that the charge against the respondent herein was not proved by the prosecution and agreed with the findings of the Adjudicating Authority and accordingly dismissed the Revision - Held that - In the case in hand, admittedly no notification for appointing the Direc....... + More

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