Summary of this article
A criminal case against Standard Chartered Bank that had dragged on for more than two decades came to an end on Tuesday, after the Supreme Court quashed the proceedings against the bank and one of its officers. The case is related to alleged foreign exchange violations from 1991-1992.
A Bench of Justice J.B. Pardiwala and Justice Manoj Misra held that the Enforcement Directorate (ED) had missed a mandatory legal step before launching the prosecution, as per media reports. The court also flagged how little the case had progressed over the years.
