"In view of the fact that the alleged offence took place on 28th April, 1987 and for the first time summons were issued to appellant Parag Dalmia for appearance on 16th July, 2001 ie after more than 14 years, I am of the considered view that serious prejudice is caused to the Appellant in leading his defence," Justice Mukta Gupta said.
The court allowed a batch of appeals filed by Parag Dalmia, H S Rustagi and Jai Hari Dalmia against the order of the Appellate Tribunal for Foreign Exchange which was passed on October 7, 2010.
"This is not a case of delay on account of the acts of the appellants but because of a casual approach adopted by the Respondent (Enforcement Directorate). Hence Crl. Appeal...Is required to be allowed on this count...," Justice Gupta said.
The court also held it has not been proved that the three persons, indicted by the foreign exchange panel, "were in-charge and responsible for the day-to-day working" of M/s Multitech International Ltd, which was accused of being involved in FERA violation way back in 1987.
Earlier, the three officials had taken the plea that the records, which could have crucial for their defence in the case, have "weeded out" and "grave prejudice" would be caused to them in leading their defence. MORE
