UNION OF INDIA Vs. ABN AMRO BANK

JUDGEMENT

(1.) Crl. M.P. No. 11274 of 2013 is allowed.

(2.) The Special Director of Enforcement, Enforcement Directorate, Government of India, New Delhi, exercising powers under Section 51 of the Foreign Exchange Regulation Act, 1973 (for short "FERA"), later repealed, initiated proceedings vide order dated 22.9.2000 against M/s. Maple Leaf Trading International Pvt. Ltd. (for short 'the Company') for violation of the provisions of Section 19(1)(a) and (d), 29(1)(b), 47(1) and 49(i)(a) read with Section 68 of FERA. Proceedings were also initiated against the other Respondents, including 1st Respondent, ABN AMRO Bank NV (now called "Royal Bank of Scotland NV") and 4th Respondent - M/s. Piccadily Invest AG, Zurich, Switzerland (for short "Piccadily"). Respondents, aggrieved by the above mentioned order, preferred four appeals before the Appellate Tribunal for Foreign Exchange, New order of confiscation and the penalty imposed.

(3.) Union of India, aggrieved by the said order, preferred Criminal Appeal No. 380 of 2003 before the Delhi High Court under Section 54 of FERA read with Section 35 of the Foreign Exchange Management Act, 1999 which was, however, dismissed, stating that neither any question of law nor any legal infirmity had been found in the impugned order passed by the Tribunal. Aggrieved by the same, Criminal Appeal No. 975 of 2007 has been filed by the Union of India, which is treated as the main appeal and being heard along with Criminal Appeal No. 976 of 2007, which was also filed by the Union of India and another against the order of the High Court dated 12.9.2003 setting aside the order confiscating the drafts deposited by few investors in the 2nd company.