Delhi HC Grants Bail To Deepak Ramnani In PMLA Case Linked To Sukesh Chandrashekhar Extortion Racket

The Delhi High Court on Friday granted bail to Deepak Ramnani and his brother Pradeep Ramdanee in a case arising from an alleged ₹217 crore extortion racket that, according to the prosecution, was orchestrated by Sukesh Chandrashekhar and his associates. The court also granted bail to Deepak in the connected money laundering case investigated by the Enforcement Directorate (ED). Justice Prateek Jalan held that, considering the period of custody already undergone by Deepak and Pradeep and the...

Kerala High Court Dismisses CMRL Appeal Against ED Probe In Money Laundering Case Involving Ex-CM's Daughter

The Kerala High Court on Friday dismissed an appeal filed by Cochin Minerals and Rutile Limited (CMRL) challenging an Enforcement Directorate summons issued in a money laundering probe linked to payments allegedly made to Exalogic Solutions Pvt Ltd, a company owned by Veena Vijayan, daughter of former Kerala Chief Minister Pinarayi Vijayan. A division bench of Justices Raja Vijayaraghavan V and K.V. Jayakumar upheld the ED's action and declined to quash the Enforcement Case Information Report...

Karnataka High Court Sets Aside ED Attachment Order, Says Copy-Paste Of Statutory Language Not Enough

The Karnataka High Court has recently set aside an Enforcement Directorate (ED) provisional attachment order, holding that a copy-paste of statutory language, without demonstrating from the material on record why immediate attachment was necessary, does not satisfy the requirements of law. Justice S. Sunil Dutt Yadav observed: “In the guise of adherence to law mere copy-paste of statutory language to indicate compliance would not be sufficient. There must be application of mind to the...

Kerala High Court Reserves Verdict On CMRL's Appeal Challenging ED Probe, Orders Status Quo Till June 5

The Kerala High Court on Monday reserved judgment on an appeal filed by Cochin Minerals and Rutile Limited (CMRL) challenging Enforcement Directorate summons issued in a money laundering probe linked to payments allegedly made to Exalogic Solutions Pvt Ltd, a company owned by Veena Vijayan, daughter of former Kerala Chief Minister Pinarayi Vijayan.The Court directed the ED to maintain the status quo and not precipitate any proceedings against the appellants until June 5, when it is scheduled to...

Delhi High Court Grants Bail To Ex-Best Foods MD Dinesh Gupta In ₹1,740 Crore PMLA Case

The Delhi High Court on Saturday granted bail to Dinesh Gupta, former Managing Director of Best Foods Ltd, in a money laundering case arising from allegations that loan funds obtained from a consortium of banks led by the State Bank of India were diverted and siphoned off. The loan account was eventually declared a non-performing asset, with outstanding liabilities of about ₹1,740.30 crore. Justice Swarana Kanta Sharma held that further incarceration was not warranted at this stage. The Court...

CMRL Moves Division Bench Against Kerala HC Order Refusing To Quash ED Summons In Exalogic Case

An appeal has been filed before the Kerala High Court against a Single Judge's refusal to quash the Enforcement Directorate's money laundering probe linked to alleged payments of ₹1.72 crore made by Cochin Minerals and Rutile Limited (CMRL) to Veena Vijayan, daughter of former Kerala Chief Minister Pinarayi Vijayan, and her company, Exalogic Solutions Pvt Ltd. The appeal also challenges summons issued by the ED to CMRL officials. The appeal challenges Justice T.R. Ravi's May 26 judgment...

Kerala HC Upholds ED Summons In Probe Linked To Payments To Ex-Kerala Chief Minister's Daughter's Company

The Kerala High Court has declined to interfere with summons issued by the Enforcement Directorate to officials of Cochin Minerals and Rutile Limited in a money laundering investigation linked to payments allegedly made to Veena Vijayan, daughter of former Kerala Chief Minister Pinarayi Vijayan, and her company, Exalogic Solutions Pvt Ltd. Justice T.R. Ravi dismissed a petition filed by Cochin Minerals and its officers challenging an Enforcement Case Information Report (ECIR) registered by the...

Calcutta High Court Quashes PMLA Case Against Louis Dreyfus India In ₹234 Crore Bank Fraud Case

The Calcutta High Court on Friday (May 22) quashed money laundering proceedings initiated by the Enforcement Directorate (ED) against Louis Dreyfus Company India Private Limited, the Indian subsidiary of Dutch-French commodities giant Louis Dreyfus Company. The case arose out of an alleged bank fraud of about ₹234.57 crore investigated by the CBI. The ED had alleged that the company was involved in circular trading transactions linked to three Letters of Credit (LCs) and had unlawfully received...

ECIR Cannot Be Quashed At Threshold As It Is An Internal ED Document: Patna High Court

The Patna High Court on 18 May held that an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act, 2002 (PMLA) is an internal document of the Enforcement Directorate (ED) and cannot ordinarily be subjected to quashing, observing that such a plea is premature unless it translates into a prosecution complaint or other actionable proceedings. Justice Arun Kumar Jha dismissed a writ petition filed by Rishu Shree seeking to quash ECIR-13 and ECIR-14 and restrain the...

Delhi High Court Directs ED To Release ₹1.54 Crore To Satyam Caterers Despite Pending PMLA Appeal

The Delhi High Court has directed the Directorate of Enforcement to release over ₹1.54 crore to Satyam Caterers Pvt Ltd, subject to a bank guarantee of an equivalent amount, in a money laundering case. The court held that the excess recovery could not be withheld solely because ED's separate appeal against the reduced quantification of proceeds of crime is pending. A division bench of Justice Navin Chawla and Justice Ravinder Dudeja set aside an order of the Appellate Tribunal under SAFEMA,...

Delhi High Court Quashes Summons Against Compact Capital, Kalptaru Fincap In ₹539.37 Crore Sunstar PMLA Case

The Delhi High Court on Thursday set aside a September 25, 2024 cognizance order and consequent summons issued by the Additional Sessions Judge, Tis Hazari Courts, against Compact Capital Limited, Kalptaru Fincap Limited, and Naresh Aggarwal. The case arises from the Directorate of Enforcement's ₹539.37 crore money laundering case linked to Sunstar Overseas Ltd, a rice trading company. The Sessions Court, while taking cognizance under the Prevention of Money Laundering Act, had held that...

Bombay High Court Grants Relief To Goa Ex-CMs Digambar Kamat, Churchill Alemao In Louis Berger PMLA Case

The Bombay High Court at Goa has recently set aside a Special Court order taking cognizance against former Goa Chief Minister and current PWD Minister Digambar Kamat and Former Chief minister Churchill Alemao in the Louis Berger-linked money laundering case. The court held that prior government sanction to prosecute them, as required under Section 197 of the Code of Criminal Procedure for public servants, had not been obtained before cognizance was taken. A single-judge bench of Justice...