NEW DELHI: The Enforcement Directorate (ED) has approached the Delhi High Court, contesting the bail granted to former Unitech promoters in a money laundering case. Justice Jasmeet Singh, after initial submissions, issued a notice on Tuesday, seeking responses from the accused, Sanjay and Ajay Chandra.
The case stems from allegations that the Chandras misappropriated funds collected from homebuyers. Initially booked by the Economic Offences Wing (EOW) of the Delhi Police, the ED later filed a money laundering case, accusing the Chandras of siphoning off money intended for real estate projects.
On June 7, 2024, Additional Sessions Judge Dheeraj Mor granted bail to the Chandras, citing their prolonged pre-trial detention.
The defense highlighted that several Unitech flats were delivered between 2017 and 2020 and noted that `850 crore had been deposited with the Supreme Court, with substantial amounts refunded to homebuyers.
However, the ED’s counsel, Vivek Gurnani, argued that the bail order misapplied Section 45 of the Prevention of Money Laundering Act (PMLA).
He contended that the decision contradicted the Supreme Court’s principles in the Vijay Madanlal case, which set strict guidelines for granting bail in money laundering cases.
The High Court has scheduled the next hearing for March 26, as the ED seeks to overturn the bail order.