FINAL ORDER

29.09.2025

This Order disposes of the Appeal No. FPA-FE-17/KOL/2017 filed by Shri Mohammad Iqbal Siddiqi against the Order dated 09.01.2017 (Impugned Order) passed by Special Director (Appeals-FEMA), Kolkata. The Impugned Order has reiterated the Order in Original No. ADJ/11/LKZO/2016/AD(NBS) dated 30.03.2016 (OIO) passed by the Assistant Director, Directorate of Enforcement, Lucknow. Vide the OIO a penalty of Rs. 15,00,000/- was imposed on the Appellant and his property comprising of agricultural land at Pargana Deva Gram, District Barabanki was confiscated for contravention of Section 6(3)(i) of Foreign Exchange Management Act, 1999 (FEMA) read with Schedule II of Regulation 3 (1)(b) of the Foreign Exchange Management (Permissible Capital Account Transactions) Regulations, 2000 of Foreign Exchange Management Act, 1999 & Regulation 3 (a) of the Foreign Exchange Management (Acquisition and transfer of Immovable property in India) Regulations, 2000 of Foreign Exchange Management Act, 1999. This Tribunal vide its Order dated 25.09.2024 disposed of the Application for waiver of the pre-deposit of the penalty amount with direction to the Appellant to pay an amount of Rs. 7,50