TTV Dhinakaran allegedly acquired $1,04,93,313 in foreign exchange without obtaining RBI permission
The Supreme Court Monday stayed the proceedings of a Chennai court relating to the 1996 Foreign Exchange Regulation Act (FERA) case lodged against AMMK leader TTV Dhinakaran.
A bench headed by Chief Justice Ranjan Gogoi issued a notice to TTV Dhinakaran and sought his reply on the petition filed by ED challenging the Madras High Court order of June 25, 2018.
The bench, also comprising Justice Sanjiv Khanna, was not in agreement with the Enforcement Directorate that the trial should continue during the pendency of the appeal before the top court.
The probe agency had filed an appeal against the high court order by which lower court was directed to order the ED to provide copies of the documents of the case to Mr Dhinakaran.
The high court had also dispensed with the appearance of Mr Dhinakaran except when ordered by the trial court.
The case against Mr Dhinakaran was that he allegedly acquired $1,04,93,313 in foreign exchange without obtaining permission from the Reserve Bank of India and deposited it in the current account of Dipper Investments Ltd., a company incorporated in the British Virgin Islands, and having account with Barclays Bank in UK.