Thursday, Sep 21, 2017 | Last Update : 09:22 PM IST
Dhinakaran is facing two cases filed by the Enforcement Directorate against him for alleged violations of the Foreign Exchange Regulation Act (Fera).
New Delhi: The Supreme Court pulled by AIADMK deputy general secretary T.T.V. 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 that “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.”
“Why are you aggrieved? Do you want us to issue directions to all courts to not decide cases expeditiously?” the bench said.
“You (Dinakaran) 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 `10 lakh,” the bench added.
The counsel then sought permission to withdraw the appeal and it was dismissed as withdrawn.
Dhinakaran is facing two cases filed by the Enforcement Directorate (ED) against him for alleged violations of the Foreign Exchange Regulation Act (Fera).
The case against Mr Dhinakaran is because he was allegedly responsible for acquiring $1,04,93,313 in foreign exchange without obtaining the prior permission from the RBI.
Mr Dhinakaran had then deposited the money from the current account of a company in the British Virgin Islands.
The trial court had framed charges against him for illegally routing US dollars in foreign exchange without taking permission from the Reserve Bank of India and deposited 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 44.37 lakh pounds 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 Dhinakaran is facing two cases filed by the ED against him for alleged violations of the FERA, which has now been repealed.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. The high court vacated the stay on framing of charges and asked the trial court to complete the trial in three months. The present appeal by Dinakaran was directed against this order.