New Delhi: The Supreme Court on Monday pulled by AIADMK Deputy General Secretary TTV Dhinakaran seeking stay of the Madras High Court order directing completion of trial in three months in the Fera violation case.
A Bench of Justices A.K. Goel and Uday Lalit told former Madras high court judge and senior counsel Nagamuthu “your prayer is against the mandate of law.
Everyone wants speedy trial, but you are objecting to an order directing completion of trial in three months. You (Dhinakaran) wanted to be heard before framing of charges. You were heard and High Court directed completion of trial in three months. You are responsible for the delay. Obviously you want to delay the trial. We will impose exemplary cost of Rs. 10 lakhs.” The Bench told the counsel, “It is the responsibility of the bar to file such frivolous appeals.”
The counsel then sought permission to withdraw the appeal and it was dismissed as withdrawn.
Dinakaran is facing two cases filed by the Enforcement Directorate (ED) against him for alleged violations of the Foreign Exchange Regulation Act (FERA). The case of against Dinakaran is that he had allegedly acquired $10.49 million in foreign exchange without obtaining prior permission from the Reserve Bank of India (RBI). Dhinakaran then deposited the money in the current account of a company in the British Virgin Islands.
The trial court had framed charges against him for illegally routing U.S. dollars in foreign exchange without taking permission from RBI and depositing in the current account of Dipper Investments Ltd, a company incorporated in the British Virgin Islands with Barclays Bank, Sutton, UK.
The second case pertains to the transfer of Pounds 4.437 million through West Bank Ltd, Ireland, allegedly breaching FERA provisions. Dhinakaran is facing two cases filed by the ED against him for alleged violations of the FERA, which has now been repealed.
Initially Dinakaran challenged the framing of charges on the ground that he was not heard when charges were framed. HC vacated stay on framing of charges and asked the trial court to complete the trial in three months. The present appeal by Dhinakaran was directed against this order.
