Delhi HC grants 3 weeks to ED to file its response to petition
The Delhi High Court on Friday sought a response from the Enforcement Directorate (ED) on media baron and Quint portal promoter Raghav Bahl‘s petition to quash the money laundering case against him and refused to pass any order of interim protection at this stage. Justice Anu Malhotra granted three weeks to the ED to file its response to the petition which also seeks challenges the notices issued to the petitioner by the investigating officer.
“Would your lordship consider granting the same order of no coercive step as granted by Supreme Court (in the case concerning the substantive offense)?” Senior advocate Mukul Rohatgi, appearing for the petitioner asked. “I don’t consider it, sir,” the judge responded as the case was listed for further hearing on January 27. Bahl was caught by Income Tax first for a massive tax evasion case and ED later filed money laundering charges to purchase assets in London.
The Income Tax Department had initiated proceedings against Raghav Bahl under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act of 2015 for irregularities in the returns filed for the assessment year (AY) 2018-2019. Bahl and family’s advocate Rohatgi stated that after re-filing, the income tax return for AY 2018-19 has now been cleared by the assessing authorities, and therefore, the money laundering proceedings cannot be allowed to go on.
“Based on black money complaint, ED proceedings commenced. Now there is no violation, there are no proceeds of crime. IT (authority) has accepted the income tax return for 2018-2019 in 2021,” he said. The petition claimed that since Bahl has “done no wrong”, the continuation of the process of inquiry under the Prevention of Money Laundering Act of 2002 “without having any subsisting basis in fact or law” has a “deleterious effect” on his life, business, and reputation.
Advocate Amit Mahajan, appearing for the ED, clarified that the issue of money laundering proceedings is not before the apex court and argued that the investigation by the agency cannot be stalled on the presumption that the Supreme Court would rule in favor of the petitioner. He said he would file a reply on behalf of the ED and that the petitioner was only being called for an inquiry.
Raghav Bahl and wife Ritu Kapur were on the radar of agencies for money laundering and stock price manipulations for changing ownership of Quint portal to little known firm Gaurav Mercantiles Ltd and stock price variations of another form PMC Fincorp.
 Enforcement Directorate charges media baron Raghav Bahl for money laundering – Jun 07, 2019, PGurus.com
PGurus is now on Telegram. Click here to join our channel and stay updated with all the latest news and views
For all the latest updates, download PGurus App.
- Construction of plinth of Ayodhya Ram Mandir super-structure has begun; will be completed by May: Trust - January 27, 2022
- ED arrests Karvy stock broking CMD Parthasarathy, CFO Hari in swindling of more than Rs.2874 crores of investors - January 27, 2022
- Padma Vibhushan to CDS General Bipin Rawat, Kalyan Singh. Padma Bhushan to Ghulam Nabi Azad, Buddhadeb Bhattacharjee. Padma Shri to Neeraj Chopra, Sonu Nigam - January 25, 2022