Shailendra Swarup vs The Deputy Director,Enforcement ...

The Supreme Court upheld the penalty imposed under Section 8(3) and Section 68 of the Foreign Exchange Regulation Act, 1973 (FERA, 1973) on the appellant for contraventions related to foreign exchange remittances. The Court found that the appellant, despite being a part-time director, had responsibilities that warranted the penalty. The appeal against the Delhi High Court's dismissal of the appellant's challenge to the penalty was dismissed, affirming the lower courts' decisions.