NEW DELHI: The Apex Supreme Court has directed the trial of a resident Indian of Dubai in a “Chandigarh court for a Rs four “million international fraud on Punjab National Bank, reports ‘the “observer of business and politics.
The NRI, Ajay Apanval, the daily “Said along with four others had plotted in Chandigarh to cheat the bank. They floated three companies and opened current accounts with the bank. “The bank issued foreign letters of credit to Agarwal’s Dubai firm. The amount was to be remitted to emirates national bank for the Goods sent on board the vessel MV a tefeh. Later it was discovered that there was no such ship and the letters of credit were fake.”
However, when a charge sheet against Agarwal and others were filed, they said that since part of the conspiracy had taken place outside India, sanction of the central government was necessary. The daily said the chief judicial magistrate discharged all of them on that ground. The government then appealed to the high court. It allowed the appeal and Agarwal moved the Supreme Court. The Apex court dismissed the appeal saying central government’ s Sanction Was Not necessary in this Case.
“Conspiracy being a continuing offence, all the offenders need not be present in India. The list of Conspiracy is a meeting of minds between the actors in the drama and not their place of residence,” the paper said.
One of the judges, R.M.Sahai, observed even foreigners could be tried in India in such instances. “A NRI cannot claim that the offence shall be deemed to have been committed outside the country merely because he was not physically present.”
Article extracted from this publication >> May 21, 1993
