1. The following order of the Appellate Tribunal for Foreign Exchange is delivered by O.P. Nahar, Chairperson.

2. By virtue of these appeals, the appellants have challenged common Adjudication Order No. ADJ/431/VKA/2000/6205 dated 18-12-2000 passed by Assistant Director, Enforcement Directorate, imposing a penalty for contravention of the provisions of section 18(2) read with section 18(3) on the reasons that appellants failed to take reasonable steps for repatriation of the export proceeds of 4 GRIs and 1 invoice amount to US Dollar 23797.20 as follows:—

(1)Penalty of Rs. 2,25,000 against Om Enterprises (Appellant in Appeal No. 236/2001)

(2)Penalty of Rs. 8,50,000 against Unicorp Exports (Appellant in Appeal No. 237/2001)

(3)Penalty of Rs. 10,50,000 against Janak B. Shah (Appellant in Appeal No. 238/2001)

(4)Penalty of Rs. 50,000 against Jatin C. Sanghvi (Appellant in Appeal No. 239/2001)

(5)Penalty of Rs. 1,00,000 against Jagdish. S. Joshi (Appellant in Appeal No. 240/2001)

3. This Tribunal by order dated 9-11-2001 directed the appellants to make pre-deposit of 10 per cent of the amount of their respective penalties within 12 weeks. The appellants have made the aforesaid pre-deposi