1. This order of Appellate Tribunal for Foreign Exchange is delivered by Shri R.N. Poddar, Member.

2. These appeals are directed against common adjudication order No. SDE/KRBVI/02/2001, dated 30-1-3001 passed by Special Director, Enforcement Directorate imposing penalty of Rs.50 lakhs on the appellant company and Rs.20 lakhs each on the individual appellants for the reason of failure to realize outstanding export proceeds in contravention of Section 18(2) and 18(3) r/w Section 68(1) of FER Act 1973.

3. Earlier these appeals were allowed by this Tribunal vide an order dated 12-5-2003. However, on a Writ Petition filed by the respondent, the Hon'ble High Court of Karnataka at Bangalore by an order dated 28-2-2007 while setting aside the said order dated 12-5-2003 passed by this Tribunal, directed for fresh consideration of these appeals. The said order of the Hon'ble High Court was received by this Tribunal on 12-12-2007. These matters were posted for hearing on 1-2-2008, 24-4-2008 and 15-7-2008 but appellants failed to appear or being represented. Shri A.C. Singh, DLA filed the service report dated 1-4-2008 and 26-6-2008 along with copies of Panchnama dated 31-3-2008 and 26-6-200