Supreme Court of India
Shailendra Swarup v. The Deputy Director, Enforcement Directorate
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In view of the aforesaid, this appeal deserves to be allowed, the judgments of the High Court as well as those of the adjudicating officer and the Appellate Tribunal are set aside.
Judgment, page 28
From the headnote
Foreign Exchange Regulation Act, 1973: ss.8(3), 8(4), 50, 51 and 68 – Show cause notice for initiation for proceedings u/s. 51 against Company and its Directors for contravention of ss. 8(3) r/w 8(4) and 68 – Reply by the Company – Initiation of proceedings – Appellant (one of the Directors) replied that he was a part-time, non-executive Director and was not responsible for the conduct of business of the Company at the relevant time – Penalty imposed by Enforcement Directorate – Appeal before Appellate Tribunal for Foreign Exchange dismissed – High Court also dismissed the appeal – Appeal to…
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