M/S. BHARAT CARPETS versus DIRECTOR, ENFORCEMENT DIRECTORATE

M/S. BHARAT CARPETS versus DIRECTOR, ENFORCEMENT DIRECTORATE

Penalty rightly imposed as no material was put forth by appellant-exporter for having taken any steps for repatriation of the amount involved; Section 18(3) creates rebuttable presumption against exporter when repatriation is not effected within prescribed period.

Parties
Appellant: MIS. Bharat Carpets; Respondent: Director, Enforcement Directorate
Jurisdiction
India
Judgment Date
07 July 2008
Procedural Posture
Criminal Appeal / Appeal From Appellate Tribunal for Foreign Exchange, New Delhi, Final Judgment Dated 30.1.2002
Outcome
Appeal dismissed
Legal Topics
Export Proceeds Repatriation, Penalty for Non Realisation, Legal Presumption Under Section 18(3)
Foreign Exchange Regulation Export Proceeds Repatriation Penalty for Non Realisation Legal Presumption Under Section 18(3)

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Parties

MIS. Bharat Carpets

Appellant

Director, Enforcement Directorate

Respondent

Procedural Posture

Criminal Appeal / Appeal From Appellate Tribunal for Foreign Exchange, New Delhi, Final Judgment Dated 30.1.2002

Legal Issues

  1. 1 Whether penalty was rightly imposed for non-repatriation of export proceeds under Section 18(2) and (3) of the Foreign Exchange Regulation Act, 1973
  2. 2 Did the appellant take requisite steps for repatriation as mandated by law?

Ratio Decidendi

Penalty rightly imposed as no material was put forth by appellant-exporter for having taken any steps for repatriation of the amount involved; Section 18(3) creates rebuttable presumption against exporter when repatriation is not effected within prescribed period.

Court Disposition

Appeal dismissed

Orders

  • Appellants found guilty of violation of Section 18(2) for consignment covered by PP-576895 dated 13.5.1991; penalty amount reduced to Rs.60,000/- for appellant firm, Rs.20,000/- refunded as Rs.80,000/- already deposited