JUDGEMENT:- The above appeal has been filed by the Director of Enforcement against the order dated 13th Dec. 1974 of the Foreign Exchange Regulation Appellate Board, allowing the appeal filed by the respondents herein and setting aside the order of adjudication of the Deputy Director of Enforcement, dated 28th August 1972 holding the respondents guilty of contravention of the provisions of Section 4 (1) of the Foreign Exchange Regulation Act, 1947, and imposing a personal penalty of Rs. 5000 on each of the respondents.

2. The appellant, the Director of Enforcement, has filed the appeal claiming himself to be aggrieved against the said order of the Foreign Exchange Regulation Board. A preliminary objection has been taken by the respondents herein as to the maintainability of the appeal by the Director of Enforcement. The preliminary objection raised by the learned counsel for the respondent is tow-fold, (1) Under the Foreign Exchange Regulation Act 1973, it is only the Central Government which can be taken to be aggrieved against the decision of the Foreign Exchange Regulation Appellate Board under Section 54 of the Act, allowing the appeal filed by the respondents and the D