On Friday, the Madras High Court put a hold on the proceedings of cases against AIADMK Amma deputy general secretary TTV Dinakaran. These cases were pending for Foreign Exchange Regulation Act (FERA) violation at the Economic Offences Court-II in Egmore at Allikulam.
The Madras HC Justice M. S. Ramesh was passing interim orders on a petition by Dinakaran granted this injunction. This stay order will be in effect until next hearing that is on July 17.
Two Foreign Exchange Regulation Act violation cases were registered by Enforcement Directorate (ED) against Dinakaran. The first was registered in 1996 and the second was registered in 2001. In the two, the first was registered when USD 1.04 crores were transferred to Dipper Investment through Barclays Bank, Virgin Islands. The second was registered for illegal routing of USD 36,000 and 1,00,000 Pounds for starting a new project in the United Kingdom, which was later revealed to be a hotel.
The Madras HC in past has rejected Dinakaran’s petitions twice, once in April and other in February. This decision to reject was taken after ED provided proofs that the accused will be able to switch and manipulate the evidence in the cases.
