APPELLATE TRIBUNAL UNDER SAFEMA AT NEW DELHI

1. FPA-FE-20/JL/2014 Shri Som Nath Sikka … Appellant

2. FPA-FE-21/JL/2014 Shri Ramesh Kumar … Appellant Versus The Joint Director Directorate of Enforcement, Jalandhar … Respondent Advocates/Authorized Representatives who appeared For the Appellants : Mr. Naveen Malhotra, Adv.

Mr. Ritvik Malhotra, Adv.

For the Respondent : Mr. Varun Mishra, Adv.

CORAM SHRI G. C. MISHRA : MEMBER SHRI BALESH KUMAR : MEMBER

FINAL ORDER

09.01.2025 This Order disposes of the Review Applications dated 02/12/2015 filed by the Appellants Shri Som Nath Sikka in Appeal No. FPA-FE- 20/JL/2014 and Shri Ramesh Kumar in Appeal No. FPA-FE-

21/JL/2014.

2. On perusal of the record it is revealed that the Joint Director of the Enforcement Directorate, Jalandhar vide Order No.JD/JL/1/2014/GB dated 27.03.2014 imposed penalty of Rs.34,00,000/- on each of the two Appellants herein viz Shri Som Nath Sikka and Shri Ramesh Kumar under Section 50 of the Foreign Exchange Regulation Act, 1973 (FERA) for contravention of the provisions of Sections 9(1) (b) and 9 (1) (d) of FERA. The Ld. Adjudicating Authority further ordered that the amount of Rs.60,000/-, seized from the residence of Shri