9911796707
TMI Blog2019 (4) TMI 1355X X X X Extracts X X X X X X X X Extracts X X X X ..... he writ petition filed by the appellants herein. 3. A few facts need mention here-in-below for the disposal of these appeals, which involve a short point. 4. Appellant No.1 herein is a Limited company having its registered office at Chennai and Appellant No.2 is its Managing Director. The appellant-Company is engaged in the business of software exports. The appellant-Company has also specialized in the area of Enterprises Resources Planning (ERP) implementation. The appellant-Company is offering their services to domestic and overseas customers. 5. The Enforcement Directorate, Mumbai through its Assistant Director filed a complaint, being complaint No.T3/ 536B/ 2002, under Section 16 (3) of the Foreign Exchange Management Act, 1999 (f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Foreign Exchange Management (Realization, Repatriation and Surrender of Foreign Exchange) Regulations, 2000 read with Regulation 9 of the Foreign Exchange Management (Export of Goods and Services) Regulations, 2000 and also violation of Section 42 (1) of FEMA by the appellant-Company. The complainant, therefore, prayed that action, as contemplated under FEMA, be taken against the appellant-Company for such violations as provided under FEMA. 10. It is this issue, which was adjudicated by the Special Director. By order dated 13.03.2008, the Special Director allowed the complaint and held that the appellant Company has contravened the provisions of FEMA as prayed in the complaint and accordingly imposed a penalty of Rs. 4 crores on the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 17. Having heard the learned counsel for the parties and on perusal of the record of the case, we are inclined to allow these appeals and while setting aside the impugned order remand the case to the High Court for deciding the appeals afresh on merits in accordance with law. 18. The need to remand the case (appeals) to the High Court is called for because of the observations made by the High Court in Para 15, which reads as under: "...........No material has been produced before this Court as to what steps have been taken to realize the amount within the stipulated period. The company was not able to place any material to show the reason for the failure to realize the said amount within the stipulated period or any permission for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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