APPELLATE TRIBUNAL UNDER SAFEMA AT NEW DELHI (1) MP-FE-26/KOL/2025 (A.D.)

MP-FE-25/KOL/2025 (Stay) MP-FE-46/KOL/2022 (Stay)

FPA-FE-33/KOL/2022 M/s. Fairdeal Supplies Ltd. … Appellant (2) MP-FE-28/KOL/2025 (A.D.)

MP-FE-27/KOL/2025 (Stay) MP-FE-47/KOL/2022 (Stay)

FPA-FE-34/KOL/2022 Shri Pawan Kumar Agarwal … Appellant Versus The Special Director Directorate of Enforcement, Kolkata … Respondent Advocates/Authorized Representatives who appeared For the Appellant : N.K. Chowdhury, Kaushik B., Sourav Roy, Anshu Deshpande, Advocates For the Respondent : Shri Vivek Gurnani, Advocate CORAM JUSTICE MUNISHWAR NATH BHANDARI : CHAIRMAN SHRI V. ANANDARAJAN : MEMBER

ORDER

28.04.2025 This order would decide the application filed by the appellant for waiver of condition of pre deposit under section 19 of Foreign Exchange Management Act of 1999 (FEMA) (in short, the Act of 1999).

2. It is a case where a penalty of Rs. 20 crores has been imposed on the appellant M/s Fairdeal Supplies Ltd. and penalty of Rs. 3.6 crores on the appellant Pawan Kumar Agarwal (Managing Director of Fairdeal) for the contravention of section 6(3)(f) of Foreign Exchange Management Act, 1999 (FEMA) coupled with Regulation 3 of Forei