NDLI: M/s Telestar Travels Pvt. Ltd. & Ors. Vs. Special Director of Enforcement

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Foreign Exchange Regulation Retracted statements Cross-examination
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Act(s) Referred	Indian Evidence Act, 1872 (1 of 1872) Foreign Exchange Regulation Act, 1973 (46 of 1973)
Case(s) Referred	Referred Case 0 Referred Case 1 Referred Case 2 Referred Case 3 Referred Case 4 Referred Case 5 Referred Case 6 Referred Case 7 Referred Case 8 Referred Case 9
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Appeal Dismissed
Headnote	Foreign Exchange Regulation Act, 1973: ss. 8 and 14 - Dealing in foreign exchange without previous permission of Reserve Bank - An Indian company dealing with a foreign company based in UK and money transactions made through another company' based outside India and alleged to be paper company - Held: There is no reason to interfere with the concurrent findings of fact that the company concerned was a paper company controlled by appellants from India - There appears to be sufficient evidence on record for the Adjudicating Authority and the Appellate Tribunal to hold that the appellants were guilty of violating the provisions of FERA that called for imposition of suitable penalty against them. - Appellate Tribunal has already given relief by reducing the penalty by 50% - Keeping in view the nature of violations and the means adopted by appellants to do so, there is no room for any further leniency. Adjudication Rules under FERA: r. 3 - Delay in pronouncement of order - Held: Delay by itself would not constitute a ground for setting aside an order that may otherwise be found legally valid and justified - A careful examination of the adjudication by the Authority and .that of the Appellate Tribunal and ·the High. Court indicates that no illegality or irregularity has been demonstrated - Foreign Exchange Regulation Act, 1973 - s.51 - Administrative law.Evidence: Retracted statements - Evidentiary value of - Held: Adjudicating Authority and Appellate Tribunal have both correctly appreciated the legal position and applied the same to the case at hand to hold that the statements were voluntary and, therefore, binding upon appellants. Evidence Act, 1872: s. 139 - Cross-examination of person called to produce c a document - Held: The documents relied upon by Adjudicating Authority produced by two officials of Indian High Commission in London, were permitted to be inspected - Therefore, refusal of Adjudicating Authority to permit cross examination of witnesses producing the documents cannot even on principles of Evidence Act be found fault with.Appellant No. 1-travel agency was engaged in the business of booking of tickets for crew members working on ships. For the purpose, the appellants had arrangement with a company based in U.K. {CTL), which would send Pre-paid Ticket Advice {PTA) to appellants in India. The appellants would then secure ticket from the air line concerned. The money for the tickets would then be credited into the Swiss bank account of another company {'B' Ltd.) registered in British Virgin Islands. 'B' Ltd. would transfer the funds to CTL towards the price of tickets after realizing 3% of the ticket price towards commission payable to the appellant company. The Directorate of Enforcement issued a shows cause notice for adjudication proceedings as contemplated u/s 51 of the Foreign Exchange Regulation Act, 1973 stating that 'B' Ltd. was only a paper company and was entirely a holding of the appellant company and was being controlled by it. The Adjudicating Authority, by order dated 29.3.2001, held the appellant-company guilty of violation of provisions of ss. 8 and 14 of FERA, and imposed upon it a penalty of Rs.90,000/- for contravening s.14 and Rs.85,00,000/- for contravention of s.8(1) of FERA. A consolidated penalty of Rs.20,00,000/- each was imposed on the remaining appellants. The Appellate Tribunal for Foreign Exchange, in appeal, reduced the penalty by 50%. The further appeals of the appellants were dismissed in limine by the High Court.
Judge	Honble Mr. Justice T.S. Thakur
Neutral Citation	2013 INSC 98
Petitioner	M/s Telestar Travels Pvt. Ltd. & Ors.
Respondent	Special Director Of Enforcement
SCR	[2013] 1 S.C.R. 1005
Judgement Date	2013-02-13
Case Number	1306-1309

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