TMI Blog2022 (3) TMI 917X X X X Extracts X X X X X X X X Extracts X X X X ..... propriate to direct the respondent No.2 to release an amount of ₹ 15,35,45,317/- (Rupees fifteen crores thirty five lakhs fourty five thousand three hundred and seventeen only), which is commensurate with the amount mentioned in paragraph 9 of the affidavit filed in support of I.A. No.1 of 2022, i.e., expenditure incurred by the petitioner company for the months of November and December, 2021 and January, 2022. - I.A. No. 1 of 2022 and Writ Petition No. 36212 of 2021 - - - Dated:- 11-2-2022 - Dr. Shameem Akther, J For the Petitioner : Shireen Sethna Baria. For the Respondent : Gadi Praveen Kumar SC For Central Govt. ORDER This Writ Petition, under Article 226 of the Constitution of India, is filed by the petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and other consequential expenses. In paragraph No.9 of the affidavit filed in support of I.A. No.1 of 2022, the expenditure incurred by the petitioner company for the months of November and December, 2021 and January, 2022 is clearly mentioned. Total expenditure for the said three months comes to ₹ 15,35,45,317/-. To keep the petitioner company alive, the petitioner company has to borrow money from various sources. At present, there is no Presiding Officer to the Appellate Tribunal constituted under FEMA to adjudicate the appeal likely to be preferred by the petitioner Company against the confirmation of impugned seizure orders and sought a direction for release of said amount enabling the petitioner company to prefer an appeal under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... but the same was rejected by respondent No.2, vide letter, dated 07.02.2022. Admittedly, there is no Presiding Officer to the Appellate Tribunal constituted under FEMA to adjudicate the appeal likely to be preferred by the petitioner company against the subject seizure orders issued by respondent No.2 and confirmed by respondent No.3. Several circumstances are narrated with regard to the hardship which the petitioner Company would face, if an amount of ₹ 15,35,45,317/- is not ordered to be released. Under these circumstances, in order to keep the petitioner Company alive and to enable it to meet its day to day expenses like payment of salaries to its employees, payment of taxes, statutory dues and operational expenses etc., this Court ..... X X X X Extracts X X X X X X X X Extracts X X X X
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