MONOTOSH SAHA vs SPL.DIRECTOR,ENFORCEMENT DIRECTORATE&ANR

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 under Section 50 of the Foreign Exchange Regulation Act, 1973. The Court reiterated that discretion in granting stay pending disposal must be exercised judiciously, referencing principles from Silliguri Municipality v. Amalendu Das and others (AIR 1984 SC 653) and others. The Court found that the appellant did not establish a case for hardship warranting a waiver of the pre-deposit requirement.