Note exchange case: HC notice to CBI 

Note exchange case: HC notice to CBI 

The Karnataka High Court has ordered notice to the Central Bureau of Investigation (CBI) in a petition filed by K C Veerendra, casino owner accused in the currency exchange racket.

The petitioner, said to be a member of the Janata Dal (S) has moved the court challenging the criminal case filed against him by the CBI for illegal exchange of currency when demonetisation was announced.

Veerendra has contended that the CBI cannot register a case under the Prevention of Corruption Act against him as the bank officer with whom currency exchange was carried out is not identified in the FIR.

During the income tax raid in December 2016, the authorities found Rs 5.76 crore in new currency in Veerendra’s bathroom in his residence in Challakere in Chitradurga district. The petitioner has argued that mere violation of the RBI guideline cannot become an offence. Justice John Michael Cunha ordered notice and adjourned the hearing.

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