ORDER

19.06.2025

The instant appeal has been filed under Section 19 of the Foreign Exchange Management Act , 1999 (“ FEMA , 1999”) against Order No. JD/CEZO-I/01/2019 dated 28.02.2019 (“impugned order”) passed by the Joint Director & Adjudicating Authority under the said Act.

Facts in Brief

2. The facts leading to the present appeal as enumerated in the impugned order are that as a result of specific intelligence collected and investigations conducted by the Directorate of Enforcement (“ED”), it came to light that M/s. Mardia Metals & Polymers, Chennai, had been indulging in gross under- valuation of their imports and remitting the differential value of the imported goods to overseas buyers through unauthorised/hawala channels. Acting upon the intelligence, the officers of the Directorate searched the business and residential premises of Shri Vivek R. Mardia (the appellant herein), proprietor of the said M/s. Mardia Metals & Polymers on 02.06.2009. During the search operation conducted by ED, allegedly incriminating evidence such as emails, documents, and foreign currency held by Shri Vivek R. Mardia were seized. On further investigation, it was revealed that the modus operandi adopt