:1: IN IN IN THE THE THE HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION FERA APPEAL NO.93 OF 2007 WITH CIVIL APPLICATION NO.6720 OF 2007 Mr. Piyush Jhaveri. ..Appellant. vS. The Union of India and ors. ..Respondents. Mr. Mohan Jayakar with Uma Vyawaharkar i/by M/s. Khaitan & Jayakar for the Appellant. Shri.R.V.Desai,Sr. Counsel with Mrs. S.V. Bharucha, Mr.A.S.Rao and H.P.Chaturvedi for the Respondent. CORAM : F.I. REBELLO & R.S. MOHITE,JJ. DATED : 22ND FEBRUARY, 2008 PC : 1. This appeal is preferred by Piyush Jhaveri who was the partner of the firm whose appeal has been dismissed by the Tribunal. The Tribunal relied on the judgment of the Calcutta High Court in the case of Tarak Nath Vs. Govt. of India reported in A.I.R. 1975 Calcutta 337 and following the judgment took the view that partnership firm is a compendium name of its partners and both cannot be held guilty for the same contravention simultaneously and directed that the payment of penalty by the partners in their respective appeals where the amount was pre-deposited, may be adjusted and appropriated towards penalty, 2. In so far as FERA Act is concerned, considering Section 68 and also the decision in Fera Appeal No.655 :2: of 2007 dated 20.9.2007 the partners as also the firm is liable to pay the penalty. 3. We have heard the learned counsel for the parties. Considering the facts and circumstances of the case, the impugned order is set aside and the amount of penalty of Rs.60,000/- is reduced on the facts and circumstances of the case to Rs.15,000/-. The same should be adjusted from the amount already paid and the balance be refunded to the appellant with no interest within eight weeks from today. CIVIL APPLICATION NO.6720 OF 2007 1. As the appeal is dismissed, application is infrucutuous. Hence, the same is dismissed. (R.S. MOHITE, J.) (F.I. REBELLO, J.)