Secondary education minister K Parthasarathy filed a petition in the High Court on Thursday, challenging the verdict of the Economic Offences Court sentencing him to two months’ simple imprisonment and a fine of Rs.5.25 lakh.
The minister contended that the situation arose because his company had incurred losses and as there was no bank guarantee. He claimed that he had nothing to do with the case.
However, the Enforcement Directorate (ED) has argued that the minister had filed the petition only to save his cabinet post. Stating that the lower court had already fined him `3 lakh for violation of Foreign Exchange Regulation Act (FERA) regulations, the Enforcement Directorate has argued that the minister, who had not challenged the verdict earlier, was doing so now because of political reasons.
Justice Raja Ilango, who heard both sides, posted the case for further hearing to Friday.