IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE V.GIRI THURSDAY, THE 6TH AUGUST 2009 / 15TH SRAVANA 1931 WP(C).No. 22312 of 2009(H) -------------------------- PETITIONER(S): --------------- M/S. ABAD OVERSEAS PVT.LTD., ABAD BUILDING, JEW TOWN ROAD, KOCHANGADI, KOCHI, KERALA-682 002, REPRESENTED BY ITS DIRECTOR, SHRI. ANWAR HARSHIM. BY ADV. SRI.JOY THATTIL ITTOOP RESPONDENT(S): --------------- RESERVE BANK OF INDIA, FOREIGN EXCHANGE DEPARTMENT, CENTRAL OFFICE, 11TH FLOOR, CENTRAL OFFICE BUILDING, SHAHEED BHAGAT SINGH MARG, P.B.NO.1055, MUMBAI-400 001. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 06/08/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: V.GIRI, J ------------------- W.P.(C).22312/2009 -------------------- Dated this the 6th day of August, 2009 JUDGMENT Petitioner, a Company engaged in the business of processing and export of Marine Food Products had received foreign remittance by way of subscription for equity participation. This is to be reported to the RBI, in terms of the regulations framed under the Foreign Exchange Management Act, 1999 (FEMA). An intimation had to be submitted in the prescribed form as well within a period of 30 days from the date of remittance. Apparently, the amounts were received in the year 2006. 2. Ultimately when the petitioner intimated the same there was a delay of more than two years. This obviously constituted a contravention of the regulations framed under FEMA. Therefore, the petitioner agreed for a compounding of the offence. This was permitted under Ext.P2 order. After compounding the admitted contravention, competent authority has proceeded to fix the compounding fee at Rs.5 Lakhs. This order was passed W.P.(C).22312/2009 2 on 17.3.2008. Petitioner has preferred an appeal before the appellate Tribunal. Maintainability of the said appeal is in doubt and hence the writ petition. 3. The appellate Tribunal shall pass an order on the appeal preferred by the petitioner within two months from the date of production of a copy of this judgment. Other contentions of the petitioner are left open. It is upto the Appellate Tribunal to decide whether the Appeal is maintainable. Writ petition is disposed of as above. V.GIRI, Judge mrcs