The Karnataka High Court has stayed the Enforcement Directorate’s FEMA proceedings against Malavika Hegde, CEO of Coffee Day Enterprises, citing serious legal issues including delay and liability. The Court has paused the ED’s 2022 complaint, show cause notice, and hearing notices till further hearing on January 23.
The Supreme Court of India dismissed criminal proceedings against HDFC Bank, ruling that a corporation cannot possess mens rea, or criminal intent, needed for liability under the IPC. The court emphasized that the bank officials acted inadvertently in misinterpreting orders, lacking evidence of malicious intent or misappropriation, thus quashing the FIR.
