The Additional Chief Metropolitan Magistrate Court in Egmore on Thursday framed charges against All India Anna Dravida Munnetra Kazagham (Amma) leader TTV Dinakaran in connection with a Foreign Exchange Regulation Act (FERA) case registered against him, news agency ANI reported. Dinakaran, however, refuted all the charges, saying they are ‘false’.
Dinakaran is accused of illegally routing 1.04 dollar in foreign exchange without taking permission from the Reserve Bank of India (RBI) and depositing it in the current account of Dipper Investments Ltd., a company incorporated in the British Virgin Islands, with Barclays Bank, Sutton, United Kingdom.
The AIADMK leader is facing two cases filed by the Enforcement Directorate (ED) against him for alleged violations of the Foreign Exchange Regulation Act (FERA). The second case pertains to the transfer of 44.37 lakh pounds through West Bank Ltd, Ireland, allegedly breaching FERA provisions.