IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION F.E.R.A.(ST) NO.29554 OF 2007 Glorious Plastics & Ors. ..Appellants Versus Union of India & Ors. ..Respondents ---- Mr.Madhu M.Patel for the appellants. Mr.R.V.Desai Senior Counsel with A.S.Rao with Ms.Rutuja Ambekar for respondents. ---- Coram : F.I.Rebello & Coram : F.I.Rebello & Coram : F.I.Rebello & R.S.Mohite,JJ R.S.Mohite,JJ R.S.Mohite,JJ Date : 8.2.2008. PC 1. Heard learned Counsel for the parties. 2. The learned Tribunal in its impugned order has arrived at the conclusion that the presumption which arose against the appellants is under Section 18(3) of F.E.R.A. 3. It is the case of the appellants before this Court that the goods which were exported were not taken delivery by the parties in whose favour the goods were exported. It is also pointed out that the said goods were subsequently auctioned by the port authorities. It is also the case of the appellants that they took steps like engaging lawyer and were in communication with the Consulate authorities. Considering the value of the goods, no steps had been taken to file a Suit for recovery of the amount due and payable as the cost of litigation would be more than the amount which was due and payable. 4. Considering the finding recorded by the appellate authority, we are not inclined to interfere with the said finding. 5. However, considering the facts and circumstances of the case, the penalty imposed can be reduced. In the light of that, the impugned order is modified to the extent that the fine imposed on appellant no.1 is reduced to Rs.10,000/- and fine imposed on appellant nos.2 & 3 is reduced to Rs.5000/- each. The balance amount to be refunded. The amount to be refunded without any interest. 6. With the above observations, appeal stands disposed off. (R.S.Mohite,J) (F.I.Rebello,J) (R.S.Mohite,J) (F.I.Rebello,J) (R.S.Mohite,J) (F.I.Rebello,J)