Supreme Court · 2020 INSC 465 · Decided 27 July 2020
Shailendra Swarup v. The Deputy Director, Enforcement Directorate
- Court
- Supreme Court of India
- Citation
- 2020 INSC 465 · [2020] 7 S.C.R. 89
- Case number
- CRIMINAL APPEAL No. 2463/2014
- Decided
- 27 July 2020
- Bench
- ASHOK BHUSHAN, R. SUBHASH REDDY (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Criminal
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 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
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