JUDGMENT

Dr. A.S. Anand. J.-Leave granted.

2. The respondents, a private limited company and its Directors were proceeded against departmentally for having contravened the provisions of Section 10(1)(a) of the Foreign Exchange Regulation Act, 1947 (hereinafter referred to as ; the FERA, 1947 ). The gravamen of the departmental case against the respondents was that they had failed to repatriate the foreign exchange lying in Malaysia, which they had a right to receive in India and had thereby failed to take or refrained from taking action which had the effect of not securing the receipt of the foreign exchange in this country. In the charge-sheet, the respondents were alleged to have committed two contraventions of the provisions of FERA, 1947 by the Directorate of Enforcement. The first charge related to their failure to repatriate foreign exchange of Malaysian t 62186.42 being the sale proceeds of Nataraja Rubber Estate and Malaysian t 1,25,000. being the Social Welfare Prize money won by the Company in 1960 while the second charge related to their failure to repatriate Malaysian t 3,56,222.44 being the profit earned by the Company from the business carried on by the branch of the re