Forex case: High Court gives relief to Parthasarathy

Published: 13th October 2012 11:15 AM  |   Last Updated: 13th October 2012 11:15 AM   |  A+A-

Secondary education minister K Parthasarathy got relief on Friday with the High Court staying the order passed in 2008 by the Appellate Tribunal for Foreign Exchange, New Delhi.

Justice KG Shankar gave the stay order while dealing with an appeal filed by the minister challenging the order of the appellate tribunal.

Senior counsel DV Sitarama Murthy, appearing for the minister, said that the appellate tribunal had passed the order without issuing notice to the petitioner and that the relevant provision had no application to the facts of the case.

The tribunal erred in not noticing that the petitioner had not utilised the foreign exchange for any purpose other than for which it was required.

Standing counsel for the Enforcement Directorate PSP Suresh Kumar said that the ED had imposed a penalty of Rs 3 lakh about a decade ago and the appellate tribunal had confirmed the same in 2008.

The petitioner was charged with violating provisions of the Foreign Exchange Regulation Act (FERA).

After hearing both the parties, the judge granted stay and adjourned the matter for hearing to Tuesday (Oct 16).

Parthasarathy had filed a petition in the HC in August against his conviction by the Special Court for Economic Offences, in a FERA violation case.

He was sentenced to two months’ simple imprisonment and a fine of Rs 5.15 lakh.


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