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Madras HC issues stay on investigating FERA case against Dinakaran
The second case pertains to the transfer of 44.37 lakh pounds through West Bank Ltd, Ireland, allegedly breaching FERA provisions.
Providing temporary relief to All India Anna Dravida Munnetra Kazagham (Amma) faction leader T.T.V. Dinakaran, the Madras High Court on Friday issued stay orders to the Chennai Metropolitan Magistrate court on investigating a Foreign Exchange Regulation Act (FERA) case registered against him.
However, Justice M.S. Ramesh has directed the Enforcement Directorate (ED) to file a counter in two weeks.
Dinakaran had filed a petition in the high court three months back to relieve him from the FERA violation case.
Dinakaran is facing two cases filed by the Enforcement Directorate (ED) against him for alleged violations of the Foreign Exchange Regulation Act (FERA).
The court had framed charges against him for illegally routing U.S. dollars in foreign exchange without taking permission from the Reserve Bank of India (RBI) and deposited it in the current account of Dipper Investments Ltd., a company incorporated in the British Virgin Islands, with Barclays Bank, Sutton, United Kingdom.
The second case pertains to the transfer of 44.37 lakh pounds through West Bank Ltd, Ireland, allegedly breaching FERA provisions.
