IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD (Special Original Jurisdiction) WEDNESDAY, THE THIRTY FIRST DAY OF DECEMBER TWO THOUSAND AND EIGHT PRESENT THE HON'BLE MR JUSTICE GODA RAGHURAM AND THE HON'BLE MR JUSTICE SANJAY KUMAR WRIT PETITION No: 28832 of 2008 BETWEEN: M/s Heart Entertainment Limited, Rep by its Managing Director, Sri Venkat N.R. AkkineniS/o. Sri A.Nageswara Rao, aged 54 years, Occ: Managing Director, M/s Hear Entertainment Limited,R/o. No.7A, Road No.12 Banjara Hills, Hyderabad 500034 ... PETITIONER AND 1 Appellate Tribunal for Foreign Exchange, Ministry of Law Justice & Company Affairs, Janpath (Indian Oil) bhavan, new Delhi 110 001 2 Special Director (Appeals) Foreign exchange Management Act and Commissioner of Income Tax, Room No.385, C.R. Building, I.P.Estate, New Delhi 110 002 3 Deputy Director, Directorate of Enforcement Foreign Exchange Managment Act, Government of India No.9/1, State Bank road, (behind India Garage), Bangalor 560 001 4 Reserve Bank of India, Exchage Control Department, Overseas Investments Division, Central Office, Amar Building, 3rd Floor, Fort Mumbai 400 001 ...RESPONDENTS Petition under Article 226 of the Constitution of India praying that in the circumstances stated in the Affidavit filed herein the High Court may be pleased to issue a writ, Order or Orders, more particularly a writ in the nature of Certiorari calling for the records relating to an connected with the orders dated 22-10-2008 in Appeal No.124/2006 on the file of the 1st Respondent in dismissin the appeal filed by the Petitioner, confirming the orders dated 30.03.2006 mae in Appeal No. SD(A) BGLR/2005-06/83, SD (A)/BGLR/2005-06/89 on the file of the 2nd Respondent confirming the Order No.DD/37/BZ/HNB/2005/FEMA(KNS)/2533 dated 29.09.2005 passed by the 3rd Respodnent imposing a penalty of Rs.30,00,000/- (rupees thirty Lakhs) on the Writ Petitioner, for contravention of Section 6(3) of Foreign Exchange Management Act read with Regulation 15(iii) of the Notification No.FEMA 19- 2000 RB Dated 03.05.2000 for non-submitting the Annual Performance Report, the audited balance sheets andprofit and loss account along with the Directors Report on the working of the overseas forign concern during the year, and quash the same and pass Counsel for the Petitioner: MR.S.ASHOK ANAND KUMAR Counsel for the Respondents: MR.A.RAJASHEKAR REDDY (ASST SOLICITOR GEN) The Court made the following: ORDER: (per Hon’ble Sri Justice Goda Raghuram) Sri S. Ashok Anand Kumar, learned counsel for the petitioner states that the petitioner does not want to pursue this writ petition, as the petitioner desires to pursue the available alternative remedy of appeal under Section 35 of the Foreign Exchange Management Act, 1999. In view of the submission, the writ petition is dismissed as withdrawn with liberty as sought for. The impugned order dated 22.10.2008 may be returned to the petitioner. There shall be no order as to costs. _________________ GODA RAGHURAM, J _________________ SANJAY KUMAR, J December 31, 2008 DSK