Dismissed
Union of India and Anr. v. Ratnam Exporters Importers of Handicrafts Gems
Bombay HCFERA/71/2007
Case brief
AI extract
What is this about?
Two foreign exchange appeals were filed against a Tribunal's order reducing penalties. The High Court found no case for interference as liability was established and rejected the argument that the penalty was arbitrary or excessive.
What did the court decide?
Appeals dismissed as the learned Tribunal was not open to hold the penalty was arbitrary after arriving at a conclusion of liability.