Telangana High Court
WP/8914/2007 of M/s. Heart EntertainmentLtd., Rep. by its Managing Director Vs Speical Director (Appeals) FEMA AND Commissioner of on 27 December 2007
SRI JUSTICE B. PRAKASH RAO AND THE HON’BLE SRI JUSTICE L. NARASIMHA REDDY W.P.NO.8914 of 2007 Dated:27.12.2007 Between: M/s. Heart Entertainment Ltd., rep. by its Managing Director, Venkat N.R.Akkineni, Hyderabad and another. ..Petitioners. and Special Director (Appeals)FEMA &
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Conclusion
THE HON’BLE SRI JUSTICE B. PRAKASH RAOAND
THE HON’BLE SRI JUSTICE L. NARASIMHA REDDY
W.P.NO.8914 of 2007
Dated:27.12.2007
Between:
M/s. Heart Entertainment Ltd., rep. byits Managing Director, Venkat N.R.Akkineni, Hyderabad and another.
and
..Petitioners.
Special Director (Appeals)FEMA & Commissioner of Income Tax, Delhi-I, New Delhi and another.
..Respondents.
THE HON’BLE SRI JUSTICE B. PRAKASH RAOANDTHE HON’BLE SRI JUSTICE L. NARASIMHA REDDY
WRIT PETITION No.8914 OF 2007
ORDER:(per Sri BPR,J)
Heard both sides and at their request, the writ petition itselfis taken up for final disposal.
In this writ petition, the petitioners seek a mandamus, interalia, declaring the orders of the Appellate Tribunal for ForeignExchange, Ministry of Law Justice and Company Affairs, NewDelhi in directing them to deposit 40% of the penalty imposed bythe 2[nd] respondent as per the order, dated 29.09.2005, pending theappeals, being Appeal Nos. 124 and 125 of 2006, as illegal andarbitrary.
The main ground urged on behalf of the petitioners is to theeffect that even taking into account the violation as alleged againstthe petitioners for non-filing of the accounts, the maximum penaltythat can be levied is only Rs.2,00,000/- under Section 13 of theForeign Exchange Management Act, 1999 and therefore, thequestion of imposing the penalty more than the said amount doesnot arise.
Heard the counsel on either side and perused the materialon record.
Except the aforesaid allegation, there is no other allegationagainst the petitioners and therefore, since the matter is only at aninterlocutory stage, without going into the merits of the matter, wedeem it appropriate to dispose of the writ petition with the followingdirections:
The appellate authority is directed to entertain the appealsby granting stay, pending disposal of the said appeals, subject tothe petitioners depositing a sum of Rs.2,00,000/- (Rupees twolakhs only), in each of the appeals, within a period of four weeksfrom today and thereafter, both the appeals shall be disposed of inaccordance with law after affording an opportunity to both theparties.
Accordingly, the writ petition is disposed of. No order as tocosts.
______________________
B. PRAKASH RAO, J
_______________________
L. NARASIMHA REDDY, J
Dated: 27.12.2007
sj