FERA- Where interest received by revenue was relatable to seized amounts from petitioners, which were invested in fixed deposits by revenue, petitioners would be entitled to accrued interest on such seized amounts

Bombay High Court R. K. Jewllers  v. Union of India Writ Petition No. 2777 of 2003 04/05/2010 JUDGMENT (Per V.C.Daga, J.) Heard. Perused petition. 2. This petition, filed under Article 226, is directed against the order in original 28th February, 2001 passed by the Special Director of Enforcement under the provisions of Foreign Exchange Regulation Act, 1973 (the repealed Act) to the extend it does not consider the question of grant of interest on the amount seized from the premises of the petitioners and returned to them without interest. Factual Backdrop : 3. The petitione...