Hyderabad: The Hyderabad High Court on Wednesday refused to grant relief to India Cements Ltd chairman N. Srinivasan and dismissed his petition seeking to exempt his personal appearance before the Special CBI Court of the city in the money laundering case lodged by the Enforcement Directorate in illegal investments case of Y.S. Jagan Mohan Reddy.
Justice Shameem Akther was dismissing the petition seeking exemption from his appearance before the Special Court which designated to try the cases of the Enforcement Directorate under Prevention Money Laundering Act.
The judge differed with the arguments of Srinivasan’s counsel that the Special Court also had magisterial power under Section 205 of CrPC and considered the contention of the ED that its case could not be compared with that of the CBI. It was one pertaining to the Money Laundering Act.
The judge felt that in view of the dismissal of the application by the Special Court for the exemption, the petitioner could file a revision petition.
