ORDER

06.01.2025

FPA-FE-25/MUM/2011

The present appeal is preferred under section 19 of the FEMA,1999 against the Adjudication order No. ADJ/01/B/SDE/RAJ/2011/FEMA/2995 dated 19.01.2011, passed by the Ld. Special Director, whereby a penalty of Rs.25 Lacs was imposed on the Appellant.

FACTS IN BRIEF

2. The brief facts of the case are that information was received from Central Excise & Customs, Surat that M/s Siddha Exports had applied for rebate of Central Excise Duty by producing 15 fake shipping bills, related applications for removal of excisable goods for export (ARE-1s)and other related shipping documents, and fraudulently availed rebate of Central Excise Duty amounting to Rs. 28,61,529/-. It was reported that though the goods were not exported at all against the 15 fake Shipping Bills, M/s. Siddha Exports claimed & availed the rebate of Rs 28,61,529/- fraudulently; that M/s. Siddha Exports received total foreign exchange of US$ 10,54,310.36(FOB Value) against the aforesaid fake export as evident from the Bank Realization Certificates (BRCs) issued by UTI Bank Ltd., Ghod Dod Road, Surat, which was deposited in the Current Account of M/s. Siddha Exports bearing No. 047010200008280 by