RAI BAHADUR SETH SHREERAM DURGAPRASAD vs DIRECTOR OF ENFORCEMENT

The Supreme Court interpreted Section 23(1) of the Foreign Exchange Regulation Act, 1947, holding that the term 'whoever' is comprehensive enough to include associations of persons, such as firms, and does not solely refer to natural persons. The Court affirmed the Director of Enforcement's findings that the partnership firm was liable for failing to repatriate foreign exchange earnings from export shipments, despite the firm's argument that the amended provisions were inapplicable to earlier shipments. The Court upheld the High Court's decision restoring the original penalty imposed by the Director of Enforcement for contraventions of Section 12(2) of the Act.