In November last year, the Supreme Court granted interim bail to the founder of Housing Development Infrastructure Limited (HDIL) on medical grounds in a predicate offence, linked to the PMLA case, that is being probed by the Economic Offences Wing (EOW) of Mumbai police.
In November last year, the Supreme Court granted interim bail to the founder of Housing Development Infrastructure Limited (HDIL) on medical grounds in a predicate offence, linked to the PMLA case, that is being probed by the Economic Offences Wing (EOW) of Mumbai police.
A special court here dealing with money laundering cases has declined to extend the interim bail granted to HDIL promoter Rakesh Wadhawan on medical grounds in the Rs 4,300-crore Punjab and Maharashtra Cooperative (PMC) Bank scam case. In his order of February 13, special judge M G Deshpande held that the accused cannot capitalise on the earlier interim relief granted to him for “the hollow and blanket prayer”.
Wadhawan is among others being probed by the Enforcement Directorate (ED) in a case registered under the Prevention of Money Laundering Act (PMLA) case related to the PMC Bank scam.
In November last year, the Supreme Court granted interim bail to the founder of Housing Development Infrastructure Limited (HDIL) on medical grounds in a predicate offence, linked to the PMLA case, that is being probed by the Economic Offences Wing (EOW) of Mumbai police.
It was further extended by the Bombay High February 8 this year for three weeks on certain conditions to enable the accused undergo necessary (health related) tests.
The PMLA court had earlier granted interim bail to Wadhawan for three months which ended on February 9. Therefore this court (special PMLA) should also continue the previously granted interim bail to the accused for three months, his lawyer submitted.
Special Public Prosecutor Sunil Gonsalves, who represented the ED, contended that the accused had misled the court.
He said that the order passed by the apex court was particularly in respect of the predicate offence (EOW case) and ED was not a party in that matter.
Additionally, Wadhawan’s involvement in the PMLA case and his status of being an undertrial prisoner was not brought before the Supreme Court, the special public prosecutor argued.
It was presented before the HC, which confined the interim relief only to the EOW case and not in respect of the PMLA case registered by the ED, Gonsalves submitted.
Special judge Deshpande said in his order that the court was constrained to note that Wadhawan could not make capital of earlier interim relief for the “hollow and blanket prayer” made in the application.
It is because that time the court extended the said relief holding that the “accused could prefer appropriate application before the high court and the Supreme Court”, the judge said.
“Yet, it appears that rather than doing so, the accused wants to harp benefits of the order passed by the high court which is particularly in respect of EOW and not for PMLA Special Case,” the court said, rejecting Wadhawan’s plea.
Rakesh Wadhawan and his son Sarang Wadhawan were booked by the Central Bureau of Investigation (CBI) in October 2020 in connection with a Rs 200-crore alleged loan fraud from Yes Bank and have been facing investigation by multiple agencies.
They are also being probed by the ED as part of another PMLA case related to an alleged loan fraud at the PMC Bank involving more than Rs. 4,300 crore.
Source: Economic Times
