FEMA, BANKING & INSURANCE : Where appellant, a citizen of Islamic Republic of Pakistan holding a passport of that country was granted long term visa by Government of India and was subsequently, granted full citizenship as a naturalized citizen, and he purchased immovable property in India without taking any permission from RBI or any other Government body in contravention of regulation 7 of FEM (Acquisition and Transfer of Immovable Property in India) Regulations, 2000 and appellant paid penalty imposed by Adjudicating Authority, levy of further penalty of Rs. 50 thousand was not justified.