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The Economic Times
The Economic Times
Business

SC quashes case against Standard Chartered Bank over violations of FERA provisions

New Delhi, In a relief to the Standard Chartered Bank, the Supreme Court on Tuesday quashed a 23-year-old criminal complaint and summons issued under FERA provisions, saying that the complaint was not supported by any documentary evidence.

A bench of Justices J B Pardiwala and Manoj Misra exercised its inherent powers to quash the complaint and said that 23 years have now elapsed since the institution of the complaint and over three decades since the transaction it concerns without the trial having progressed beyond the stage of service of summons.

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