TMI Blog1986 (9) TMI 163X X X X Extracts X X X X X X X X Extracts X X X X ..... e. In the first place he could not have sold the goods privately in a secretive manner contrary to the directions of the Reserve Bank of India. In the next place he should have candidly come forward to state how much he realized and ought to have repatriated the said amount. Instead of appellant resorted to manipulations to show that the importer had paid only 50% of the value which fact is established to be untrue. The full export value is reflected in the transaction which was made with the foreign buyer at $ 5976.00 but he has repatriated only $ 2931.42. He has thus clearly violated Section 12(2). The order under appeal is unassailable. There is thus no escape from the conclusion that the appellant contravened Section 12(2) of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d been exported to M/s. Oriental Imports, New York who did not pay the entire amount instead the buyer set up a counter claim against the appellant on account of devaluation of Indian rupee. The applicant further asserted that since the consignee had not paid, full export value of goods could not be repatriated. The Deputy Director Enforcement Directorate, by his order dated November 20, 1975 rejected the defence set up by the appellant, on the findings that there was no evidence to show that the foreign buyer had raised counter claim against the appellant. The Reserve Bank of India had advised the appellant to get the goods returned to India and to approach the Indian Embassy at Washington for its intervention. The appellant made no attemp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he goods is delayed to and extent which is unreasonable having regard to the ordinary course of trade, or (b) payment for the goods is made otherwise than in the prescribed manner or does not represent the full amount payable by the foreign-buyer in respect of the goods, subject to such deductions, if any, as may be allowed by the Reserve Bank, or is delayed to such extent as aforesaid: Provided that no proceedings in respect of any contravention of this sub-section shall be instituted unless the prescribed period has expired and payment for the goods representing the full amount as aforesaid has not been made in the prescribed manner. Under the aforesaid provision an exporter who exports goods notified under sub-section (1) of sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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