ORDER :

Petitioner is knocking at the doors of Writ Court for assailing the Letter dated 17.6.2016 and Communication dated 24.10.2016 made by the first respondent-RBI respectively at Annexures-K & P, whereby his application for compounding of the contravention of provisions of the Foreign Exchange Management Act, 1999 (hereinafter 1999 Act') and the Rules made thereunder, has been negatived quoting Rule 11 of Foreign Exchange Compounding Proceedings Rules, 2000 (hereafter Compounding Rules’).

2. After service of notice, the respondent Nos.1 & 2 have entered appearance through their Panel Counsel; similarly, the respondent Nos.3 & 4 are represented by the learned Central Govt. Counsel; they have filed separate Statements of Objections resisting the Writ Petition; learned Panel Counsel & the learned CGC together makes submission in justification of the impugned action and the reasons on which the same has been constructed.

3. FACTS IN BRIEF:

(a) The petitioner was issued a Show Cause Notice dated 6.4.2011 alleging violation of the provisions of section 6(3)(d) of the Act r/w the provisions of Foreign Exchange (Borrowing or Lending in Foreign Exchange) Regulations, 2000; this was pursuant