Archive · 22 Jul 2026
Supreme Court Quashes 23-Year-Old FERA Case Against Standard Chartered Bank
The Supreme Court of India has ended a very old legal case against Standard Chartered Bank.
This case started in 1991-1992 under a law called FERA, which has since been replaced by FEMA.
The court said the government agency, the Enforcement Directorate, took too long to handle the case and did not follow the proper steps before starting the legal action.
The court also said that the bank and its officer had the right to a quick trial, which was not given to them.
This decision is important because it shows that businesses cannot be kept in legal trouble for too long without proper reasons.
It also makes sure that the government agencies follow the rules when they start legal cases.
The Supreme Court quashed a 23-year-old FERA criminal case against Standard Chartered Bank and one of its officers.
The court criticized the Enforcement Directorate for extraordinary delays and failure to issue a mandatory opportunity notice.
The ruling reinforces that enforcement agencies cannot indefinitely entangle businesses in criminal proceedings.
The case involved alleged FERA violations related to remittances routed through Standard Chartered Bank.
The court held that the prolonged prosecution violated the appellants' right to a speedy trial under Article 21 of the Constitution.
- Who
- Standard Chartered Bank and one of its officers
- What
- Quashing of a 23-year-old FERA criminal case
- When
- The case dates back to 1991-1992, and the complaint was filed in 2002.
- Where
- India
- Why
- Due to the Enforcement Directorate's failure to comply with procedural requirements and the right to a speedy trial.
Enforcement Directorate
Standard Chartered Bank
Delay in Prosecution
Enforcement Directorate
The Enforcement Directorate failed to act with diligence, causing a 23-year delay in the prosecution.
Standard Chartered Bank
Standard Chartered Bank was subjected to an indefinite criminal proceeding due to the ED's negligence.
Procedural Compliance
Enforcement Directorate
The ED asserted that an opportunity notice was served but failed to provide evidence.
Standard Chartered Bank
The bank argues that the ED did not comply with the mandatory requirement of issuing an opportunity notice.
- Case Year
- 1991-1992
- Act Involved
- Foreign Exchange Regulation Act (FERA)
- Current Act
- Foreign Exchange Management Act (FEMA)
- Court
- Supreme Court of India
- Judges
- Justice J B Pardiwala and Justice Manoj Misra
- Section of CrPC
- Section 482
- Right Violated
- Right to a speedy trial under Article 21 of the Constitution