The Special Court for Economic Offences on Wednesday sentenced Minister for Secondary Education K Parthasarathy to two months imprisonment, besides imposing penalty of Rs 5.15 lakh on him in a case regarding probe into alleged violation of Foreign Exchange Regulation Act (FERA).
The minister appeared before the court in the morning after it recalled the arrest warrant against him. The court declared him as guilty in the case, which was filed by the Enforcement Directorate (ED).
The ED had complained to the court that the minister had not paid the penalty for alleged violation of FERA in a business transaction involving a Hyderabad-based firm, KPR Tele Products Ltd, of which he was the Managing Director. The agency had registered a case against Parthasarathy in 1999 for alleged violation of FERA over import of some equipment from abroad by the firm. The ED imposed a penalty of Rs 3 lakh on him in 2001, but the amount had not been paid.
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