2015 (1) TMI 883

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....ued Show Cause Notice dated 21.01.1994 under Section 51 of FERA, 1973 against ANZ Grindlays Bank, the Account Holder and three bank officials for having credited Non-convertible Rupee Funds of Rs. 1,15,00,000/- (Rupees One Crore and Fifteen Lakhs only) during the period August to December, 1991 received from Moscow, into the Non-Resident (External) Account of Dr. P.K. Ramakrishnan in contravention of Section 6(4), 6(5) read with Section 49 of FERA, alleging that it had taken place with the consent, connivance of and attributable to the negligence on the part of the said Officials. However, by letter dated 10.7.2001 addressed to the appellant, the respondent ordered that charges relating to 'consent' and 'connivance' shall stand deleted from....

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....nsent and connivance had been dropped by the respondent vide letter dated 10.7.2001, despite so, complaint was lodged on the allegations of consent, connivance and negligence on the part of the officials of the Bank suppressing the facts and the respondent is guilty of suppressio veri and suppressio facto and on this ground itself, the complaint is liable to be quashed. It is his further contention that the complaint pertains to the allegations of consent, connivance and negligence on the part of the officials for having credited Non-convertible Rupee Funds of the Account Holder concerned and the cause of action disclosed therein is composite and inseparable and it cannot be quashed in part and continuance of the complaint proceedings on th....

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....ated 10.7.2001 ordered that the charges relating to 'consent' and 'connivance' shall stand deleted from the Show Cause Notice. Though FEMA came into force on 1.6.2000, Sunset clause under Section 49 of the said Act provided for filing of complaints under the FERA, 1973 till 31.5.2002. Taking advantage of it, the Respondent No.1 issued Opportunity Notice to all the three officials on 12.5.2002 and lodged the complaint on 29.5.2002. The Additional Chief Metropolitan Magistrate, New Delhi, on the same day took cognizance of the complaint for the offence under Section 56 of FERA and issued summons. 9. In spite of having dropped the allegations of 'consent' and 'connivance', the respondent in their complaint levelled allegations of all the th....