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K.K KUDA Vs. CHIEF ENFORCEMENT OFFICER, ENFORCEMENTDIRECTORATE & ANR.
Team SoOLEGAL | 01/01/1970

This case made by respondent against ANZ Grindlays Bank, the Account Holder and three bank officials for having credited Non-convertible Rupee Funds of Rs.1,15,00,000/- (Rupees One Crore and Fifteen Lakhs only) during the period August to December, 1991 received from Moscow, into the Non-Resident (External) Account of Dr. P.K. Ramakrishnan that it had taken place with the consent, connivance of and attributable to the negligence on the part of the said officials.However, by letter dated 10.7.2001 addressed to the appellant, the respondent ordered that charges relating to ‘consent’ and ‘connivance’ shall stand deleted from the Show Cause Notice dated 21.01.1994. As per Mr. C.A.Sundaram, learned Senior Counsel appearing for the appellant, strenuously contended that the allegations of consent and connivance had been dropped by the respondent vide letter dated 10.7.2001, despite so, complaint was lodged on the allegations of consent, connivance and negligence on the part of the officials of the Bank suppressing the facts. There was suppression and also material omission in non mentioning of reply sent by the appellant to the was suppression and also material omission in non mentioning of reply sent by the appellant to the substantiate the averments in the complaint, not even a single original document was enclosed. So the appeal is allowed and the impugned order is set aside and the proceedings in Criminal Complaint.

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