Delhi High Court Denies Anticipatory Bail to Indian Businessman in Money Laundering Case

New Delhi, July 4 (PTI): The Delhi High Court has rejected the plea for anticipatory bail by a Hong Kong-based Indian businessman involved in a money laundering case under the Prevention of Money Laundering Act (PMLA). The court emphasized that granting such a reprieve too early could hinder the investigation and undermine the primary goals of the anti-money laundering legislation.

Presiding over the case, Justice Ravinder Dudeja denied anticipatory bail to Amrit Pal Singh. Singh held the position of director at Broway Group Ltd, a company identified as the alleged beneficiary of fraudulent international remittances amounting to USD 2,880,210, equivalent to approximately INR 20.75 crore, which reportedly originated from Indian shell companies.

The Enforcement Directorate (ED) contended that these transactions were supposedly made under the pretense of importing goods, yet there were no actual business activities corresponding to these transactions.

The court order highlighted that "custodial interrogation might be necessary to ascertain the applicant's involvement in facilitating or gaining from the alleged money laundering activities. Granting bail prematurely would obstruct the investigation and compromise the statutory objectives of the PMLA."

The court, on July 1, also observed Singh's persistent non-cooperation, notably marked by his failure to respond to multiple notices, which significantly weighed against granting him protection from arrest.

The judge noted, "His consistent absence in response to summons and his evasion of the investigation exhibit a lack of genuine intent and fail to inspire confidence in his willingness to collaborate with authorities. Despite not denying receipt of the summons, he consistently failed to appear, choosing instead to avoid legal processes under untenable excuses."

The criminal proceedings against Singh's company are still in their early stages, the court pointed out.