Regulation Act . In July 1997 the appellants sold foreign exchange to another FFMC known as M/s. Tiruchi Enterprises. Investigations revealed that M/s. Tiruchi ... Enterprises has obtained and FFMC licence from the Reserve Bank giving in correct particulars about themselves in so far as their address is concerned. Investigations
time, was a duly
licensed Full Fledge Money Changer (for short "FFMC") and/or an Authorised Dealer,
who was issued the requisite licence ... Gulf Enterprises. In so far as present Appeals are
concerned, the relevant FFMC is Hotel Zam Zam. It was alleged by the DRI that Hotel
time, was a duly
licensed Full Fledge Money Changer (for short "FFMC") and/or an Authorised Dealer,
who was issued the requisite licence ... Gulf Enterprises. In so far as present Appeals are
concerned, the relevant FFMC is Hotel Zam Zam. It was alleged by the DRI that Hotel
that the appellants have misused the Full Fledged Money Changer (i.e.) FFMC Licence by releasing foreign exchange to suspicious persons in the year ... appellant No.1, a FFMC and its two directors are concerned, it is an admitted fact that the foreign exchange was delivered at the residence
appellant is a Full Fledged Money Changer (hereinafter referred to as FFMC). For the said purpose, they have a proper licence issued by the Reserve ... brand. The said M/s. TTC is duly licensed to operate as FFMC by RBI. In terms of the said agreement, blank stock
Reserve Bank of India. The appellants sold foreign currency to another FFMC called Hotel Zam Zam Money Changing Division. The latter is also licensed ... appellants, for that matter, all FFMCs is, FC is sold to another FFMC against Indian currency when a pay order issued by a bank
Hotel Zam Zam are duly licensed Full Fledged
Money Changers, in short FFMC. According to the learned senior counsel,
such transactions as between the licensed ... Section 6(4) it is stipulated that a full fledged money changer
(FFMC) as an authorized dealer in foreign exchange should strictly comply
with
orders or demand drafts in the name of Full Fledged Money Changers (FFMC, in short) for obtaining foreign currency which was later sold ... existent fictitious firm; that the appellant (who is a FFMC) was aware that he (Firoz Batliwala) was not Manager or Proprietor or employee of Tiruchi
Hotel Zam Zam are duly licensed Full Fledged
Money Changers, in short FFMC. According to the learned senior counsel,
such transactions as between the licensed ... Section 6(4) it is stipulated that a full fledged money changer
(FFMC) as an authorized dealer in foreign exchange should strictly comply
with
November 1995 the company which was a
Full Fledged Money Changer (FFMC) authorised by the Reserve Bank
released foreign exchange in the names of various ... requirement that the passport of the traveller should be verified by
the FFMC to ensure eligibility for release of the exchange; that the
traveller should
