Law: Foreign Exchange Regulation Act, 1947

Section: 23

Keywords: Manager, Export, Proceedings, Inter Alia, Fraud, Disposal, Omission, Extension, Set Aside, Precedent, Notification, Deductions, Examination, Copies, Refusal, Contravention, Period, Show Cause Notice, Prohibit, Criminal Liability, Contract, Prosecution Witness, Notice, Production, Possession, Care, Provisions, Recording, Prosecution, Liability, Proceeds, Failure, Investigation, Adequate, Payment, Presumption, Guilty, Defence, Shipping Documents, Recovery, Permission, Exchange, Fine, Conviction, Copy, Plea, Evidence, Cross-Examination, Prima Facie, Proprietor, Delay, Person Entitled, Goods, Absence Of Documentary Evidence, Foreign Exchange Result: Appeal allowed JUDGMENT Muhammad Mushtaq son of Muhammad Ishaq, who was convicted under section 23 of the Foreign Exchange Regulation Act, 1947, and sentenced to undergo R. I. For to months and also to pay a fine of Rs. 15,000, or in default to suffer further R. I. For six months, has filed appeal against his conviction and sentence. 2. The facts of the case briefly stated are that the appellant is proprietor of "New Cheap Zari House, Kagzi Bazar, Karachi and deals in handicrafts and readymade garments. He exported to consignments of his goods to Messrs M. S. Traders of U. K. On credit basis through Habib Bank Limited. He had filed and signed GRP-1 form with declaration showing the invoice value of the goods at C I F 302.62 and 522.60, in respect of the to consignments. He had signed the declaration that he undertakes to deliver to the bank specified the foreign exchange proceedings resulting from the export of the goods within four months from the date of shipment supported by a fully documented account of sales certified by the consignee. The first consignment was shipped on 1-9-1972 and the second on 17-1-1972. The amount mentioned in declarations however, were not repatriated within the stipulated the through Habib Bank Limited, therefore, a notice dated 10-3.1973 was issued to the accused to show cause as to why legal action should not be taken against him under section 23 of the Foreign Exchange Regulation Act, 1947. In his reply to the notice the accused stated that the to consignments of handicrafts…

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