Directorate of Enforcement Ministry of Finance Thr. the Assistant Director v. Canara Bank
Case brief
What is this about?
Consensual withdrawal/disposal of 30 FEMA appeals (Directorate of Enforcement v. Standard Chartered Grindlays Ltd., Canara Bank and officers) against Appellate Tribunal judgment dated 20.09.2019; condonation of delay of 43-60 days under Section 35 FEMA 1999; abatement on death of respondent (Paul/Raul Pereira, 05.09.2010); non-refund of INR 7,25,07,000 penalty deposit; Australia and New Zealand Banking Group Limited directed to deposit INR 62,00,000 (non-refundable, without prejudice, no admission of liability); Canara Bank refund of INR 62,00,000 within three months; order declared not a precedent; speaking-to-minutes typographical correction; Bombay High Court, Colabawalla & Pooniwalla JJ., June 27, 2025; FERA-era 1991 bank transactions; no merits adjudicated.
What did the court decide?
Praecipe disposed of with typographical correction to the order dated 2nd May 2025; IA 703/2020 and FEMA Appeal (St) No.1120 of 2020 abated; delay of 43-60 days condoned under Section 35 FEMA 1999 and interim applications allowed; five sets of appeals/IAs (Nos.1115, 1119, 1124, 1132, 1133 of 2020) disposed of as withdrawn for non-service; remaining appeals challenging the Judgment in SCB matters and the Judgment in Canara Bank matters disposed of as withdrawn, with INR 7,25,07,000/- already deposited by the SCB-matter Respondents not to be refunded, Australia and New Zealand Banking Group Limited/SCB-matter Respondents to deposit INR 62,00,000/- within four weeks (non-refundable), and Canara Bank at liberty to obtain refund of its INR 62,00,000/- deposit within three months of application; order declared non-precedential.