SC quashes case against Standard Chartered Bank over violations of FERA provisions

The Supreme Court quashed a 23-year-old criminal complaint against Standard Chartered Bank. This decision provided relief to the bank after a lengthy legal process. The court cited a lack of documentary evidence supporting the complaint. It also noted the trial had not progressed beyond serving summons. The Supreme Court's inherent powers were exercised to end these proceedings.

Raccontata daeconomictimes.indiatimes.com