Delhi Court frames charges in Jain Hawala case

By Staff
|
Google Oneindia News

New Delhi, Mar 19 (UNI) A Delhi Court today framed charges against two prime accused in the sensational Jain Hawal a case under the Foreign Exchange Regulation Act(FERA) for possessing foreign exchange without the permission the RBI six years back.

While framing charges, Additional Chief Metropolitan Magistrate(ACMM) Kamini Lau said there was enough evidence to prosecute S K Jain and his employee J K Jain under various sections of the FERA for possessing foreign exchange without the mandatory permission of the Reserve Bank of India(RBI).

The Court fixed September 24 for recording of evidence against the accused.

The Jain Hawala case, which had rocked the nation during the P V Narshimha Rao regime, had been pending at trial stage since the raid by the Central Bureau of Investigation(CBI) at the residential premises of S K Jain on May 3, 1991.

The case was transferred to the Enforcement Directorate(ED) in 1995 as the accused were involved in possession of a large amount of foreign currency including Dollars, Pounds and DM.

Counsel Navin Matta appearing for the ED submitted that the accused did not give any document from the RBI to sustantiate the possession of the foreign exchange with them.

During the interrogation accused J K Jain allegedly said that the foreign exchange belonged to his employeer S K Jain.

The prosecution had examined four witnesses during the trial to prove that the foreign currencies were illegally possesed by the accused through hawala route.

UNI

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