Monotosh Saha vs Spl.Director,Enforcement ...

The Supreme Court upheld the dismissal of the appellant's appeal under Section 35 of the Foreign Exchange Management Act, 1999, affirming the Tribunal's order requiring a 60% pre-deposit of the penalty imposed for contravening Section 8(1) of the Foreign Exchange Regulation Act, 1973. The Court emphasized that while discretion exists in granting stays, it must be exercised judiciously, considering the merits of the case and potential public interest implications. The Court found that the appellant did not sufficiently demonstrate hardship to warrant dispensing with the pre-deposit requirement.