TMI Blog2012 (2) TMI 177X X X X Extracts X X X X X X X X Extracts X X X X ..... 2010 - - - Dated:- 7-2-2012 - DR.D.Y.CHANDRACHUD AND M.S.SANKLECHA, JJ. Mr.M.S.Bhardwaj for the Appellant. Mr.Milind Sathe, Senior Advocate with Mr.Firdosh Pooniwala and Mr.Rishit Badhiyani i/b. A.S.Dayal Associates for the Respondent. ORAL JUDGMENT (PER DR.D.Y.CHANDRACHUD, J.) : The Civil Application has been filed for condoning a delay of 570 days in filing an appeal against an order dated 30 September 2008 passed by the Appellate Tribunal for Foreign Exchange. 2. The Foreign Exchange Regulation Act, 1973 (FERA, 1973) was repealed on 1 June 2000. Under the sunset provision incorporated in subSection (3) of Section 49 of the Foreign Exchange Management Act, 1999 (FEMA, 1999), a period of two years was prescrib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal preferred to the Appellate Board under subsection (2) of Section 52 of the repealed Act, but not disposed of before the commencement of the new Act would stand transferred to the Appellate Tribunal constituted under the new Act. 5. Upon the enactment of the FEMA, 1999, the Appellate Board constituted under the FERA, 1973 stood dissolved. An appeal against an order of adjudication passed for violation of the provisions of the FERA, 1973 has to be filed upon the enactment of the FEMA, 1999 to the Appellate Tribunal under Section 19 where the appeal arises out of an order of adjudication passed by the Special Director. Against an order passed by the Appellate Tribunal, an appeal lies before this Court under Section 35 of the FEMA,1999 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter the FEMA came into force. Upon a combined reading of Section 49 of the FEMA and Section 6 of the General Clauses Act, 1897, the Supreme Court held that it was the procedure prescribed by the FEMA which would be applicable in respect of an appeal filed under the FEMA though the cause of action arose under the FERA. Hence, it was held that it was Section 19 of the FEMA, 1999 that would apply and the Appellate Tribunal would be entitled to condone a delay beyond forty five days in accordance with the provisions made in the new Act. Limitation, it was reiterated, relates to procedure. 7. Applying the principle which has been enunciated by the Supreme Court to the facts of the present case, it is evident that an appeal against an order of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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