Legally Speaking

Money Laundering Case: SC Grants Bail to M3M Directors

The Supreme Court on Tuesday granted bail to Basant Bansal and Pankaj Bansal, who are directors of the Gurugram-based real estate group M3M, in a money laundering case.
A bench of Justice A.S. Bopanna and Justice Sanjay Kumar, which had reserved the verdict on September 11 after hearing submissions from lawyers, granted the relief to the directors of the realty firm.
The Bansals had appealed to the Supreme Court against the July 20 order of the Punjab and Haryana High Court, which had rejected their bail pleas, citing the serious nature of the case.
Basant and Pankaj Bansal had previously been arrested by the Enforcement Directorate (ED) in connection with a money laundering investigation related to an alleged bribery case.
On August 11, the Supreme Court had sought responses from the Centre and the Enforcement Directorate regarding the bail plea of the accused directors. This came after the high court refused to release them on bail in connection with the ED’s probe into an alleged bribery case involving a former judge.
The money laundering case for which Basant Bansal and Pankaj Bansal were arrested is related to an FIR filed by the anti-corruption bureau of the Haryana Police in April. The FIR was filed against Sudhir Parmar, a former special judge for ED and Central Bureau of Investigation (CBI) cases who was posted in Panchkula, his nephew, and a third director from the M3M group, Roop Kumar Bansal.
According to the FIR, the ED alleged that reliable information had been received that Parmar was allegedly showing “favoritism” to the accused Roop Kumar Bansal, his brother Basant Bansal, and real estate firm IREO owner Lalit Goyal in the ED and CBI cases pending against them in his court. Following the registration of the ACB case, Parmar was suspended by the Punjab and Haryana High Court.
The ED has stated that it has collected “incriminating evidence such as bank statements and a money trail, etc.” regarding the allegations in the FIR before making the arrests.

TDG Network

Recent Posts

FIR Filed Against Rahul Gandhi in Assam for ‘Indian State’ Remark

An FIR has been registered against Congress MP Rahul Gandhi in Guwahati, Assam, over his…

4 minutes ago

Google Refuses to Integrate Fact-Checks into Content, Here’s Why

Google informed the EU that it will not integrate fact-checking into search results or YouTube…

31 minutes ago

Gaza Ceasefire-Hostage Deal Begins After Israel Receives Hostage List from Hamas

The Gaza ceasefire-hostage deal begins after Israel gets the list of hostages from Hamas, ensuring…

47 minutes ago

Rajasthan Minister Links Kota Suicides to Love Affairs

Rajasthan Education Minister Madan Dilawar attributed some student suicides in Kota to "love affairs" and…

47 minutes ago

ChatGPT Diagnoses Rare Kidney Disease, Saves Man’s Life

A Reddit user credited ChatGPT with saving his life after the AI diagnosed him with…

53 minutes ago

Saif Ali Khan Stabbing: Accused’s Lawyer Rejects Police’s Bangladeshi Nationality Claim, Says He’s Lived in Mumbai for 7 Years

Accused's lawyer rejects police claims of his Bangladeshi nationality, stating he's resided in Mumbai for…

56 minutes ago