Foreign Exchange Appeal Tribunals dismissed five appeals for non-compliance with prior orders to deposit penalty amounts. Directions given for recall and restoration are noted, with matters listed for further hearing.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
APPELLATE TRIBUNAL, FOREIGN EXCHANGE MANAGEMENT ACT AT NEW DELHI
| 1. MP-FE-100/DLI/2010 (Recall) FPA-FE-72/DLI/2010 |
||
|---|---|---|
| M/s. Silicon Graphics Systems (P) Ltd. | … | Appellant |
| 2. FPA-FE-73/DLI/2010 | ||
| Ashok K. Desai | … | Appellant |
| 3. FPA-FE-74/DLI/2010 | ||
| Sam Edward Laub | … | Appellant |
| 4. FPA-FE-75/DLI/2010 | ||
| John C. Metcalfe | … | Appellant |
| & | ||
| 5. FPA-FE-76/DLI/2010 | ||
| Steve Cakebread | … | Appellant |
| Versus | ||
| The Special Director Directorate of Enforcement, New Delhi |
… | Respondent |
Advocates/Authorized Representatives who appeared
| For the Appellants | : Mr. Rajiv Tyagi, Advocate, |
|---|---|
| For the Respondent | : Mr. Pankaj Yadav, Legal Consultant |
| CORAM | |
| JUSTICE MANMOHAN SINGH | : CHAIRMAN |
| SHRI ANAND KISHORE | : MEMBER |
ORDER 20.03.2018
FPA-FE-72-76/DLI/2010
On 04th December, 2017 the following order was passed:
“ Learned Counsel for the appellant submits that the Hon’ble High Court has dismissed the appeal filed by the appellant on dated 29th November, 2017 which was filed against the order dated 18th November, 2015 whereby Tribunal directed to the appellant to deposit the 10 per cent of the amount of penalty imposed and reliable security for 50 per cent of the total amount of the penalty imposed. The said amount was not deposited.
Learned Counsel for the appellant seeks an adjournment taking the instructions from his client. We direct the appellant to deposit the said amount as per the directions issued earlier within a period of 30 days; otherwise, the present appeal is likely to be dismissed on the next date of hearing. ”
The said order dated 04.12.2017 was not complied by the appellant.
The Appeals are dismissed. Subsequently, the application was filed by the appellant for recall of the order dated 22.01.2018 as well as for restoration of
FPA-FE-72-76/DLI/2010
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the appeals. The said application being MP-FE-100/DLI/2010 is pending for disposal. In the meanwhile, our order was challenged by the appellant before the Hon’ble Supreme Court. We are being informed by the learned counsel for the appellant that even the Special Leave Petition (S.L.P.) has been dismissed. Learned counsel for the appellant states that the appellant have now decided to comply the order dated 18th November, 2015.
As far as the deposit of 10% of penalty amount is concerned, the learned counsel for the appellant states that the Demand Draft of Rs. 40 Lakhs and Rs. 40, 000/- is ready as a matter of fact he has approached the Respondent’s office but the same was not accepted by them.
With regard to the reliable security of 50% is concerned, the appellant is ready to furnish the third party Corporate Guarantee of the same. Counsel for the respondent seeks time to take the instructions from the respondent.
In the meanwhile, the respondent without prejudice will accept the Demand Drafts of Rs. 40 Lakhs and Rs. 40,000/- as well as the credible security to be furnished by the next date of hearing, the objection if any by the respondent considered on the next date.
List on 30th July, 2018.
(Justice Manmohan Singh) Chairman
(Anand Kishore) Member
New Delhi, 20th March, 2018
‘AS’
FPA-FE-72-76/DLI/2010
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M/s. Silicon Graphics Systems (P) Ltd.
Ashok K. Desai
Sam Edward Laub
John C. Metcalfe
Steve Cakebread
The Special Director, Directorate of Enforcement, New Delhi
Manmohan Singh
Anand Kishore
16 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
