IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE KURIAN JOSEPH FRIDAY, THE 29TH AUGUST 2008 / 7TH BHADRA 1930 WP(C).No. 4724 of 2004(K) ------------------------- PETITIONER: ------------------ ASSISTANT DIRECTOR, DIRECTORATE OF ENFORCEMENT (FEMA)`C' WING, III FLOOR, CENTRAL GOVERNMENT, OFFICE COMPLEX, POOMKULAM, VELLAYANI P.O. THIRUVANANTHAPURAM. BY ADVS. SRI.N.ANILKUMAR, ADDL.CGSC SRI. AJITH KRISHNAN, ADDL.CGSC RESPONDENTS: ----------------------- 1. M/S.JAYA EXPORTS, P.B.NO.188, FIRST FLOOR, SHAMSHAN TOWER, PANAYAPILLY, KOCHI - 2. 2. MOHAMMED ISMAIL SIDDIQUE, MANAGING PARTNER, M/S.JAYA EXPORTS, P.B.NO.188, FIRST FLOOR, SHAMSHAN TOWER, PANAYAPILLY, KOCHI - 2. BY ADV. SRI.T.M.ABDUL LATHEEF FOR R1 & 2 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 29/08/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C) No. 4724/2004 APPENDIX PETITIONER'S EXHIBITS: EXHIBIT P1 : TRUE COPY OF THE ORDER OF THE ADJUDICATING AUTHORITY DATED 4.10.1999. EXHIBIT P2 : TRUE COPY OF THE ORDER OF THE APPELLATE TRIBUNAL FOR FOREIGN EXCHANGE DATED 28.1.2003. /TRUE COPY/ P.A. TO JUDGE. vkm KURIAN JOSEPH, J. ---------------------------------------------- W.P.(C) No.4724 of 2004 ---------------------------------------------- Dated 29th August, 2008. J U D G M E N T Challenge is on Ext.P2 order passed by the Appellate Tribunal for Foreign Exchange. The adjudicating authority, in view of the violation of Section 18(2) of the Foreign Exchange Regulation Act by respondents 1 and 2, took a lenient view and imposed penalty to the tune of Rs.75,000/- on the Company and Rs.25,000/- on the Managing Partner. The matter was pursued by the respondents before the Appellate Tribunal and the Tribunal reduced the penalty. It is seen from the order that the reduction of the penalty was taking note of the fact that the respondent concerned had already closed down the business long back, and hence a further leniency was required in the circumstances. After appreciating the factual situation, the Tribunal, in exercise of the powers vested on it, reduced the penalty to Rs.15,000/- each. In the facts and circumstances of the case as stated in the impugned order, I do not find that the Tribunal has committed any illegality or irregularity in passing the order. There is no merit in the writ petition. It is dismissed. KURIAN JOSEPH, JUDGE. tgs KURIAN JOSEPH, J ---------------------------------------------- W.P.(C) No.4724 of 2004 ---------------------------------------------- J U D G M E N T Dated 29th August, 2008.