The Supreme Court on Monday dismissed former All India Anna Dravida Munnetra Kazhagam leader TTV Dinakaran’s appeal against a Madras High Court order to face trial in a Foreign Exchange Regulation Act case. The court also ordered the case be wrapped up within three months and warned Dinakaran that any attempt to delay the trial will lead to a penalty.
Dinakaran has two cases filed against him by the Enforcement Directorate for alleged violations of the FERA Act. In the first, he was charged with illegally routing dollars in foreign exchange without taking permission from the Reserve Bank of India, and then depositing it in the current account of an investments firm in the British Virgin Islands. The second case pertains to the transfer of £44.37 lakh (around Rs 36 crore) through West Bank Ltd in Ireland.
The agency had begun investigating massive cash deposits made in his bank accounts when former Tamil Nadu Chief Minister Jayalalithaa was in power between 1991 and 1996.