Allowed

FPA-FE-224/DLI/2009 of Sanjay Munshi v/s The Special Director Directorate of Enforcement, New Delhi

ATFP8 Sept 2017FPA-FE-224/DLI/2009

Case brief

AI extract

What is this about?

The Tribunal allowed a fresh application for refund of pre-deposit and cancellation of the undertaking/bank guarantee. It directed the release of the amount with 9% interest and ordered compliance within eight weeks.

What did the court decide?

Directed respondent to release bank guarantee, cancel undertaking, refund pre-deposit amount, and pay 9% interest.

FPA-FE-224/DLI/2009 of Sanjay Munshi v/s The Special Director Directorate of Enforcement, New Delhi — ATFP (2017) — LawSathi Research

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APPELLATE TRIBUNAL, FOREIGN EXCHANGE MANAGEMENT ACT AT NEW DELHI

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MP-FE-03/DLI/2017 (Misc) &

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FPA-FE-224/DLI/2009

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Sanjay Munshi … Appellant / Applicant

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Versus The Special Director Directorate of Enforcement, New Delhi

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… Respondent

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Advocates/Authorized Representatives who appeared

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For the Appellant	: Ms. Madhu Tyagi, Advocate
For the Respondent	: Mr. Prashant Pandey, Legal Consultant Mr. Pankaj Yadav, Legal Consultant
CORAM
JUSTICE MANMOHAN SINGH	: CHAIRMAN
SHRI G. C. MISHRA	: MEMBER

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ORDER 08.09.2017

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FPA-FE-224/DLI/2009

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Fresh application has been filed for Refund of Pre-Deposit by the appellant. Issue notice. Mr. Prashant Pandey, learned counsel for the respondent accepts the notice. He produced the letter dated 24^th April, 2017 issued by the Deputy Legal Advisor to the Joint Director, Directorate of Enforcement, Chennai wherein it was advised to release the bank guarantee and cancel the undertaking. The said letter was written in consequence to the dismissal of the Special Leave Petition (Civil) Nos. 357-359/12 of dated 16^th November, 2016 by the Supreme Court of India. The learned counsel for the appellant is also pressing for interest of 18% per annum till the date of actual payment.

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The learned counsel for the respondent states that since the action is being taken, therefore, interest may not be granted. We are not agreed with the submissions made by the learned counsel for the respondent. We direct the respondent to release the amount along with

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FPA-FE-224/DLI/2009

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Page 1 of 2

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the interest at the rate of 9% from the date to depositing till the date of releasing.

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We have considered the submissions of the parties. The respondent is directed to release the bank guarantee and cancel the undertaking, the same is discharged. So, the compliance of the direction should be made by the respondent within eight weeks from today.

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The compliance about the refund of the amount as well as the bank guarantee be made directly by sending the same to the appellant.

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List the appeal on 12^th April, 2018 at 02:30 PM.

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Application is accordingly disposed of.

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Copy of the order be given ‘dasti’ to both the parties.

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(Justice Manmohan Singh) Chairman

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(G.C. Mishra) Member

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New Delhi,

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08^th September, 2017

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‘AS’

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FPA-PMLA-224/DLI/2009

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FPA-FE-224/DLI/2009 of Sanjay Munshi v/s The Special Director Directorate of Enforcement, New Delhi

Case brief

What is this about?

What did the court decide?

FPA-FE-224/DLI/2009 of Sanjay Munshi v/s The Special Director Directorate of Enforcement, New Delhi

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

Parties & counsel

Coram

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