
Businessman-cum-politician Romesh Sharma was sentenced to five years8217; RI and a fine of Rs 61 lakh was slapped on him today. Sharma has been convicted in a FERA case registered against his company Next One in 1999 for swindling the Government of foreign exchange worth Rs 1,22,54,454 in 1997.
8220;Economic offences have a disastrous effect on the State8217;s effort to stabilise the economy,8221; said Additional Chief Metropolitan Magistrate Kamini Lau, pronouncing the sentence. The court observed that Sharma8217;s plea for leniency emphasised the seriousness of the offence.
8220;If a person belonging to a high status in life shows scant regard for the laws of the country, then the consequential punishment for violating such laws must be equally treated,8221; said the ACMM, observing that Sharma has been involved in not just economic violations but in cases of murder extortion, threats, cheating and wildlife act violations.
Sharma also submitted in court that if he is not sentenced to less than two years8217; imprisonment, he will be unable to stand for future elections. But the ACMM dismissed this plea on the grounds that 8220;if a lenient view is taken in this case, it may be difficult to maintain ethical standards and respect for judicial administration.8221;