2 hours ago
1
According to the ED, the wealth belonged to Indians surviving extracurricular the state who sent the wealth into the state without paying overseas speech rates successful usurpation of Reserve Bank of India rules.
After a 22-year-long trial, a Mumbai tribunal Wednesday cleared a 76-year-old antheral of charges of violating overseas speech regulations successful 1997.
The proceedings successful the lawsuit filed by the Enforcement Directorate (ED) began successful 2002, with the bureau claiming that 2 men, Pravin Popatlal Shah and Jayantibhai Parmar, were receiving payments from 2 radical successful London, and were distributing it successful Indian currency to evade overseas speech laws.
While Shah passed distant pending trial, the tribunal observed that the grounds from the witnesses examined are mostly against him and not against Parmar, and cleared the second of the charges.
According to the ED, the wealth belonged to Indians surviving extracurricular the state who sent the wealth into the state without paying overseas speech rates successful usurpation of Reserve Bank of India rules.
The bureau had claimed that successful 1997 a hunt was conducted astatine the residence of Shah successful Girgaon and Rs 17.50 lakh were seized. The bureau claimed that the probe showed that Shah was moving connected the instructions of the 2 persons successful London and would person Rs 300 per lakh helium managed to administer here.
Parmar was alleged to beryllium moving connected a fixed wage of Rs 2,000 to assistance Shah. The ED alleged that wealth to the tune of Rs 27 crore was distributed by Shah betwixt September to December 1997. The men were booked nether applicable sections of the Foreign Exchange Regulation Act, 1973 and the Foreign Exchange Management Act, 1999.
Pending trial, however, Shah passed away. The prosecution examined 2 witnesses against Parmar, some enforcement officers. Parmar’s lawyers, however, submitted to the tribunal that they did not look earlier the tribunal for cross-examination and hence the accused did not get an accidental for a just trial.
“There is nary immoderate different autarkic grounds to corroborate the connection of contiguous accused. The connection of accused no.1(Shah) is not utile arsenic helium is nary more. The grounds of the witnesses which are examined is mostly against accused no.1 and not against contiguous accused no.2 (Parmar),” the further main judicial magistrate said successful the bid passed Wednesday.
.png "indianexpress.")
.png "khaleejtimes")
.png "arabnews")
.png "gulfnews"){kind=logo}
English (US) · 
Hindi (IN) ·