R.BANUMATHI, G.M.AKBAR ALI
Fayshaw Apparels – Appellant
Versus
The Appellate Tribunal for Foreign Exchange – Respondent
R.BANUMATHI,J.
1. These Appeals arise out of the Order of Appellate Tribunal for Foreign Exchange, New Delhi dated 28.5.2010 in Appeal Nos.91, 92, 93 and 94 of 2010 rejecting the applications for dispensation of pre-deposit and directing the Appellants to make payment of full amount of penalty within 30 days from the date of receipt of the order and holding that on failure to make full payment the appeals will be dismissed on that ground. M/s.Fayshaw Apparels is the appellant in C.M.A.No.2101 of 2010, M/s.Shaw Garments Pvt.Ltd. is the appellant in C.M.A.No.2103 of 2010 and B.P.Byram Shaw, the Managing Partner/Managing Director of the said firm and Company is the Appellant in C.M.A.Nos.2102 and 2104 of 2010.
2. The brief facts are that the Appellant firm/Company are exporters of garments covered by eight shipping bills through ICD, Irugur, Coimbatore and the same were exported through Tuticorin Port. The value of the outstanding export proceeds is Rs.1,13,20,461/- in respect of M/s.Fayshaw Apparels and Rs.87,92,412/- in respect of M/s.Shaw Garments Private Limited. In terms of Section 8 of Foreign Exchange Management Act (in short, "FEMA") the exporters are required to
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.