FIRST GLOBAL STOCKBROKING PVT. LTD. vs ANIL RISHIRAJ

The Supreme Court examined whether the criminal proceedings initiated under the repealed Foreign Exchange Regulation Act, 1973 (FERA), which was replaced by FEMA in 2000, were valid. The Court analyzed the procedural history, including the rejection of discharge applications and the dismissal of the Section 482 Cr.PC application by the High Court. The Court ultimately upheld the procedural decisions, emphasizing the importance of proper legal procedures in criminal cases involving repealed statutes. The judgment underscores the Court's role in ensuring adherence to procedural law in criminal proceedings.