Disposed

FPA-FE-38/AHD/2015 of Shri S.P. Sharma v/s The Special Director Directorate of Enforcement, Ahmedabad

ATFP9 Oct 2018FPA-FE-38/AHD/2015

Case brief

AI extract

What is this about?

Appellants, directors of Ralson Industries, are listed for future hearing. They reported depositing 50% penalty for company dismissal of 75% due to pending High Court appeal and 50% penalty for themselves pending verification.

What did the court decide?

Matters adjourned for 24 January 2019 pending verification of deposit receipts.

FPA-FE-38/AHD/2015 of Shri S.P. Sharma v/s The Special… — Company and Corporate | ATFP (2018)

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APPELLATE TRIBUNAL FOR SAFEMA, FEMA, NDPS, PMLA & PBPT ACT AT NEW DELHI

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FPA-FE-36/AHD/2015 M/s. Ralson Industries	… Appellant
FPA-FE-37/AHD/2015
Shri Rajnish Pahwa	… Appellant
FPA-FE-38/AHD/2015 Shri S.P. Sharma	… Appellant
FPA-FE-39/AHD/2015
Shri Praveen Chawla	… Appellant
FPA-FE-40/AHD/2015 Shri Sham Sunder	… Appellant

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Versus

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The Special Director Directorate of Enforcement, Ahmedabad … Respondent

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Advocates/Authorized Representatives who appeared

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For the Appellants	: Ms. Smriti Sinha, Advocate & Shri Deboroto Dass, Advocate
For the Respondent	: Mrs. Aagam Kaur, Legal Consultant & Shri Prashant Pandey, Legal Consultant
CORAM JUSTICE MANMOHAN SINGH SHRI G.C. MISHRA	: CHAIRMAN : MEMBER

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ORDER 09.10.2018

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FPA-FE-36-40/AHD/2015

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M/s. Ralson Industries Ltd. has four Directors who have filed the appeals i.e. FPA-FE-37/AHD/2015, FPA-FE-38/AHD/2015, FPA-FE39/AHD/2015 & FPA-FE-40/AHD/2015. Counsel for the appellant states that as per direction to deposit 50 per cent of the penalty amount. The said order has been complied with by depositing the total sum of Rs. FPA-FE-36-40/AHD/2015 Page 1 of 2

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10,00,000/- by the four Directors. She agrees to supply the copy of the receipt to the learned counsel for the respondent who will verify the position by the next date.

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As far as company’s concerned, the similar order of depositing the half of the 50 per cent of the penalty amount, the company has filed the appeal being criminal appeal 549/2016 before the Hight Court of Delhi at New Delhi which is still pending. The next date of hearing in the appeal is fixed for 22^nd November, 2018. The total penalty imposed on the company is sum of Rs. 75,00,000/-. Counsel for the appellant states that High Court has reduced the amount from 37,50,000/- to 5,00,000/- which has also been deposited with the respondent. She agrees to served the copy of the receipt to the learned counsel for the respondent who verify the position. Compliance has been made by the appellant or not.

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List on 24^th January, 2019.

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(Justice Manmohan Singh) Chairman

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(G.C. Mishra) Member

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New Delhi, 09^th October, 2018

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‘A’

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FPA-FE-36-40/AHD/2015

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FPA-FE-38/AHD/2015 of Shri S.P. Sharma v/s The Special Director Directorate of Enforcement, Ahmedabad

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FPA-FE-38/AHD/2015 of Shri S.P. Sharma v/s The Special Director Directorate of Enforcement, Ahmedabad

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