LENNART SCHUSSLER AND ANR. vs DIRECTOR OF ENFORCEMENT & ANR.

The Supreme Court examined the applicability of Section 21(1) of the Foreign Exchange Regulation Act, 1947, in relation to Section 120-B of the Indian Penal Code, holding that the retention of foreign exchange was not an offence at the time the agreement was made, but became an offence subsequently. The Court ruled that acts performed in pursuance of an agreement, after the creation of an offence, can still be treated as acts in furtherance of conspiracy under Section 120-B IPC. The appeal was dismissed, affirming the lower court's decision to not quash the complaint against the appellants.