UNION OF INDIA Vs. LINOTYPE AND MACHINERY CO LTD

JUDGEMENT

(1.) This is an application for grant of certificate under Article 133 (1) of the Constitution to enable the appellant to prefer an appeal to the Supreme Court against the judgment passed by the Division Bench on the lift of Apr., 1976 and 12th April, 1976.

(2.) The facts of the case and the arguments which were advanced before the Court have been fully set out in the judgment of the Division Bench.

(3.) The Director of Enforcement held that the respondent company was guilty of contravening the provisions of Section 4 (1) of the Foreign Exchange Regulation Act, 1947 (hereinafter referred to as the said Act) read with Central Government Notification No. FI (67)-EC/57, dated 25th Sep., 1956 and imposed on the respondent company a penalty of Rs. 50,000/- and the Director by his order further directed the company to repatriate the foreign exchange which formed the subject-matter of the proceedings before the Director through authorised channels. Against the order of Director of Enforcement, the respondent company preferred an appeal to the Appellate Board. The Appellate Board for reasons recorded in its order dated 25th Nov., 1977 set aside the order of the Director of Enforcement and further ordered and directed refund of the penalty amount, if already realised. It may be noted that the Appellate Board in its order held in paras 8, 9 and 10 as follows: