Andhra Pradesh Secondary Education Minister K Parthasarathy today filed a petition in the High Court against his conviction, granted by the Special Court for Economic Offences, in a FERA violation case.
The minister was sentenced to two months simple imprisonment and a fine of Rs 5.15 lakh on the charges of violation of Foreign Exchange Regulation Act (FERA). Admitting the petition, the High Court posted the petition for hearing tomorrow. In his petition, Parthasarathy submitted that he had suffered huge losses in the company due to lack of bank guarantee. However the Enforcement Directorate Counsel countered that the Minister had filed the petition in order to save his ministerial post. The ED also imposed fine of Rs 3 lakh on him for violation of FERA. UNI