MESCO PHARMACEUTICALS LTD Vs. R.K. RAWAL

JUDGEMENT

(1.) IN a complaint (Annexure P -1) under Section 56 of The Foreign Exchange Regulation Act, 1973 (hereinafter referred to as FERA) read with Sub -section (3) & (4) of Section 49 of The Foreign Exchange Management Act, 1999, petitioner -company and its four Directors have been summoned as accused by trial court vide order of 28 th May, 2012 (Annexure P -2).

(2.) IN this petition, quashing of aforesaid criminal complaint (Annexure P -1), impugned order (Annexure P -2) and Opportunity Notice of 13th March, 2002 is sought on merits.

(3.) TO resist this petition, learned Central Government Standing Counsel on behalf of respondents had placed reliance upon decisions in The Assistant Director, Enforcement Directorate, Government of India Vs. Khader Sulaiman, P. Krishnasamy and J. Sampath Kumar, 2003 Cri. L.J. 3468; A S G Jothimani Nadar Vs. Deputy Director, Enforcement Directorate 1984 Law Suit(Mad) 47 decided on 24.02.1984; LPA No.405/2009 J.K.Singh, Director, M/s. Mesco Pharmaceuticals Ltd. Vs. UOI & Ors. decided on 08th September 2009; N. Rangachari Vs. Bharat Sanchar Nigam Limited JT 2007 (6) SC 292 and Standard Chartered Bank & Ors. Vs. Directorate of Enforcement & Ors., (2006) 4 SCC 278 and had asserted that the contentions of petitioners are untenable because notice under Section 51 of FERA served upon petitioners constitutes a valid notice for the purpose of proviso to Section 61 (2) of FERA.