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
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
they carry on the business of Full-fledged money Changers (for short, `FFMC') and are duly licenced by Reserve Bank of India as FFMC ... terms and conditions of the licence granted to TTC as FFMC by RBI and as per the guidelines and instructions given in the memorandum
assessee was dealing in the foreign currencies as
Full Fledged Money Changer (FFMC, for short) after obtaining requisite
permission from the Reserve Bank of India ... orders the assessee has sold the foreign currency to the two FFMC
holders having requisite licence from the RBI. The finding of fact
recorded
assessee was dealing in the foreign currencies as
Full Fledged Money Changer (FFMC, for short) after obtaining requisite
permission from the Reserve Bank of India ... orders the assessee has sold the foreign currency to the two FFMC
holders having requisite licence from the RBI. The finding of fact
recorded
smuggled gold) was deposited in the
fictitious accounts in the bank and FFMC and the
amount lying in the pay order account of the bank ... were
intercepted before the money could be credited to the
account of FFMC and the tribunal has it self held that
when the money
foreign currency obtained from respondent by the representatives of
Hotel ZamZam (FFMC) was handed over to Shambhu Natha Mishra, who in
turn sold ... routed through the banking channels from the accounts of Hotel Zam Zam
(FFMC) and respondent-LKP. He, thus, submits that sub section 2 of Section
