APPELLATE TRIBUNAL UNDER SAFEMA AT NEW DELHI (1) MP-FE-171/BNG/2018 (Stay)

FPA-FE-17/BNG/2016 M/s. BPL Limited … Appellants Versus The Joint Director Directorate of Enforcement, Bangalore … Respondent (2) MP-FE-170/BNG/2018 (Misc.)

FPA-FE-18/BNG/2016 Shri Ajit G. Nambiar … Appellant Versus The Joint Director Directorate of Enforcement, Bangalore … Respondent Advocates/Authorized Representatives who appeared For the Appellants : Mrs. Aachal Basur, Advocate Mr. Abhay Kumar, Advocate For the Respondent : Mr. Shoumendu Mukherji, Adv.

CORAM SHRI BALESH KUMAR : MEMBER SHRI RAJESH MALHOTRA : MEMBER

FINAL ORDER

07.05.2026 This Order disposes of the Appeals Nos. FPA-FE-

17/BNG/2016 filed by M/s. BPL Limited and FPA-FE-18/BNG/2016 filed by Shri Ajit G. Nambiar (Managing Director), against the Order No. BGZO/JD/04/2016 dated 31.08.2016 (Impugned Order) passed by the Joint Director, Directorate of Enforcement, Government of India, Bengaluru Zonal Office. The Ld. Adjudicating Authority (AA) imposed the penalty of Rs. 50,00,000/- on M/s. BPL Limited for the contravention of Section 10 (6) of the Foreign Exchange Management Act, 1999 (FEMA) read with Regulation 6 (1) of Foreign Exchange Management (R