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Two years in jail for former Chennai cop convicted under FERA

twitter-logo PTI        Last Updated: April 3, 2019  | 21:23 IST

New Delhi, Apr 3 (PTI) A Chennai court has sentenced a former police inspector to two-year rigorous imprisonment and imposed a fine of Rs 50,000 on him for possessing foreign currencies worth Rs 2.94 crore in 1993 in contravention of the Foreign Exchange Regulation Act (FERA), a law now repealed. Abdul Samad acquired the foreign currencies without permission from the Reserve Bank of India, the Enforcement Directorate said in a statement. The former police inspector was convicted under FERA (of 1973) by the Economic Offences Court-II, Chennai, ED said without stating the date of the order. It said a search was conducted at Samad's residence on July 15, 1993 and foreign currencies, including USD 1,92,493, Saudi Riyal 5,44,000, Qatar Riyal 12,000, UAE Dinar 70,500 and 11 Singapore Dollar, equivalent to Rs 2,94,50,120, were seized. The court has observed that the offence under FERA is a heinous crime and such contravention and offences are committed in an organised manner upsetting the economy of the country, ED said quoting the judgment. "The convict being police inspector had indulged in such a crime even though he knew the consequences of the offence," the court said, according to ED. The criminal law of FERA was repealed in 1998 by the then government and was replaced by the civil proceeding Foreign Exchange Management Act (FEMA) but cases under the previous law are being tried in various courts of the country. PTI NES NES ABH ABH

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