Man acquitted of forex irregularities after 16 years
July 19th, 2009 - 4:41 pm ICT by IANSNew Delhi, July 19 (IANS) A man booked 16 years ago for illegally possessing foreign currencies has finally been acquitted by the Delhi High Court.
Justice Anil Kumar allowed Prabhat Kumar Srivastava’s petition, which challenged the FERA (Foreign Exchange Regulation Act) Appellate Tribunal’s decision dismissing his plea for quashing of the proceedings against him.
The court directed the Enforcement Directorate (ED) to refund all the currencies recovered from his house during a raid in 1993.
The court also waived off a penalty of Rs.500,000 the ED had imposed on Srivastava.
Slamming the ED for giving erroneous findings, the court said: “The findings have been arrived at without any basis… and in the circumstances it has to be held that the adjudication order is not sustainable.”
- Court drops match-fixing charges against Delhi jeweller - Feb 18, 2011
- Jaiprakash chief to challenge insider trading penalty - Jan 07, 2012
- Apex court extends interim relief for Sahara group firms - Jan 09, 2012
- Court rejects IT department's plea against Nirma - Mar 23, 2011
- Apex court extends interim relief for Sahara group firms (Lead) - Jan 09, 2012
- Penalties on new operators for roll-out delay set aside - Jan 13, 2012
- Apex court notice to SEBI on Sahara companies' plea - Nov 28, 2011
- Lahore High Court sends notice to PCB for early hearing of Shoaib's appeal - Jan 23, 2011
- Sheep thief acquitted of charge of shepherd's murder - Feb 02, 2011
- High court reprieve for Hipolin - Apr 19, 2011
- BJP seeks apology from PM over Quattrocchi (Lead) - Jan 04, 2011
- High court rejects IT department's plea against Nirma (Lead) - Mar 23, 2011
- Indian American doctor charged with hiding India accounts - Sep 29, 2011
- Apex court allows Chandraswami to pay Rs.25 lakh penalty - Jun 15, 2011
- Court acquits murder convict - Aug 17, 2010
Tags: adjudication, anil, appellate tribunal, circumstances, court justice, delhi high court, enforcement directorate, exchange regulation, foreign currencies, foreign exchange, irregularities, New Delhi, petition, plea, proceedings, regulation act, rs 500, srivastava