Page 254 - ELT_2nd_15th April 2020_Vol 372_Part

300 EXCISE LAW TIMES [ Vol. 372

also made the new Director of M/s. Moral Colour Limited, Hong Kong. Copies
of the documents were downloaded from the Internet showing details of incor-
poration of M/s. Moral Colour Limited, Hong Kong, resignation of its Original
Director and Secretary, change of Secretary and Director and date of dissolution
of the company by Deregistration.
10. After being informed of the bank account number by the Customs
Authorities, the appellant vide letter dated 20-5-2014 informed the HSBC Bank
that after opening of the bank account, the appellant had handed over all the
documents received from the bank to Shri Nilesh Bhandari, and having not used
the bank account after opening, it requested the HSBC Bank to provide details of
all the transactions that have been done from this account from opening till date
and to freeze the said account immediately so that no further transaction can be
done from it.
11. A similar letter was also written to the Branch Manager, Hang Seng
Bank, Central Branch, Hong Kong on 18-7-2014.
12. The HSBC Bank, Hong Kong vide their letter Ref.:140605-
G020000006S, dated 6-6-2014, in response to the letter dated 20-5-2014 written by
the appellant for providing details of the business account and transaction advice
of M/s. Moral Colour Limited (A/C 652-199225-838) had intimated that the
above business account was closed on 12-2-2014.
13. The Hang Seng Bank, Hong Kong also vide their letter dated 26-8-
2014 had informed the appellant that Account No. 390-507739- 883 opened in the
name of Moral Colour Limited was closed on 10-7-2013.
14. Further, the Companies Registry, Hong Kong, vide their letter dat-
ed 20-7-2014 has informed the appellant that the company Moral Colour Limited
has been dissolved on 18-7-2014 under Gazette Notification No. 4111.
15. After 7-8 days stay at hotel, appellant had returned to India along
with other three persons.
16. The appellant has never been engaged in any business so far and
was a student at the relevant time and was lured by his own cousin, Shri
Anirudh Palta, with a free trip to Hong Kong, where another cousin and
Anirudh’s brother Bhavuk had also assured him that there was nothing illegal in
opening a company or bank account in Hong Kong.
17. In addition to the free trip to Hong Kong, Sh. Neelesh Bhandari had
also paid Rs. 20,000/- to each of the visitors through Sh. Anirudh Palta and Sh.
Bhavuk Palta.
18. The appellant heard the names of M/s. Moral Colour Limited,
Hong Kong for the first time from the officers of the D.R.I., Jaipur, when they
had recorded appellant’s statement on 30-4-2014. It appeared that Sh. Nilesh
Bhandari had fraudulently obtained appellant’s signatures on some documents
which were later used to include appellant’s name as a director of M/s. Moral
Colour Limited, Hong Kong. This company was originally registered with the
Central Registry, Hong Kong on 4-1-2013 whereas the appellant had gone to
Hong Kong for the first time on 20-2-2013.
19. It is submitted that the appellant has never dealt with this company
in any manner till date.
20. The appellant was also shown the copies of documents relating to
Returns of Allotment in M/s. Creation Aim Limited. While admitting that signa-
EXCISE LAW TIMES  15th April 2020  270