VidhiSangh

Supreme Court of India · 21/09/2023

FIRST GLOBAL STOCKBROKING PVT. LTD. & ORS. versus ANIL RISHIRAJ & ANR.

[2023] 12 S.C.R. 421 · 2023 INSC 845

AI-generated headnote. Verify against the judgment before relying on it. Paragraph numbers refer to the judgment.

Summary

The Supreme Court upheld the authority of an Enforcement Officer to lodge a FERA complaint after repeal, where cognizance was taken within FEMA’s two-year saving period. Section 49(4) continued the repealed law for prosecution of saved offences, including the existing authority to file complaints. Treating that authority as extinguished on repeal would defeat the saving provision. The appeal was dismissed and priority disposal of the complaint directed.

Issues

  1. Whether repeal terminated the Enforcement Officer’s existing authority to file the complaint.
  2. How FEMA’s saving provisions governed prosecution and cognizance of pre-repeal FERA offences.

Provisions considered

Held

Result

Appeal dismissed. Trial Court directed to accord out-of-turn priority to complaint CC No. 14/CW/2002, which had remained stayed since 7 January 2011.

Judgment PDF: Supreme Court of India, [2023] 12 S.C.R. 421.