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This story is from February 19, 2007
Hawala accused face Fera charges
S K Jain and J K Jain, prime suspects in the Jain hawala case, seem to be in for more trouble over alleged illegal possession of foreign exchange.
Additional chief metropolitan magistrate Kamini Lau came to the decision after considering the evidence produced by the enforcement directorate at the pre-charge stage.
The foreign currency, which formed the basis for registration of a Fera case against the Jains was seized by the CBI as part of the probe into the hawala case, which had rocked the country during the P V Narasimha Rao regime.
The seized currency was taken by the enforcement directorate in 1995 before issuing summons to the accused under section 40 of Fera. The case had been pending at the trial stage since the CBI raid in 1991.
J K Jain had given a statement on April 17, 1995 that the seized foreign exchange belonged to S K Jain, who was his employer.
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