In the much lit-up issue of money laundering by the ministers in the state of Maharashtra, Bombay High Court in its recent decision has refused to cancel the bail which was given to Yogesh Deshmukh, who is a builder and the close aid of Shiv Sena Member MLA Pratap Sarnaik. The registered bail by the Enforcement Directorate (ED) was rejected by Justice SK Shinde for cancellation of Yogesh Deshmukh’s bail.
While appearing for the Enforcement Directorate (ED), Additional Solicitor General Anil Singh, stated that when Yogesh Deshmukh was being granted bail, the trial court relied on very irrelevant material. However, a prima-facie case of money laundering has been filed against the latter.
Against the NSEL, an FIR was registered in the MRA Marg Police Station in September 2013. An allegation that was made under this complaint was that the genuine investors were being defrauded of their investments by way of serious misappropriations. Soon NSEL started trading on the commodities of sellers without making sure that goods of appropriate quantity and quality were stored in exchange-controlled warehouses, then thousands of investors started trading in non-existent goods.
Chavan stated, that the “Prosecution would have not been able to apply, unless and until the accused wasn’t released on bail.” The bail was granted by the magistrate’s court but the Enforcement Directorate (ED) didn’t change the decision and stayed not to release, following which the builder is still in the custody.
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