NEW DELHI : The Supreme Court on Monday warned AIADMK leader TTV Dhinakaran that it could impose Rs 10 lakh cost on him for filing a frivolous petition to delay his trial in FERA violation cases.
A bench of justice Adarsh Kumar Goel made the observation while dismissing his plea challenging a Madras High Court decision to dispose of an Enforcement Directorate case, pertaining to FERA (Foreign Exchange Regulation Act) violation, against him within three months.
“Do you want us to issue mandamus to trial courts to delay trial,” the bench asked Dhinakaran’s counsel.
The Madras High Court in July had vacated the stay it had ordered on proceedings against Dhinakaran in a FERA case filed by the Enforcement Directorate.
The court also ordered that hearing in the case should be completed within three months and warned of penalty if he attempts to delay the trial in any manner. Dhinakaran is facing two cases filed by the ED against him for alleged FERA violations.
The court had framed charges against him for illegally routing US dollars in foreign exchange without taking permission from the Reserve Bank of India and depositing 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 the West Bank Ltd., Ireland, allegedly breaching FERA provisions.