CHANDIGARH: The promoters of the Gurugram-based M3M group, Basant Bansal and his son Pankaj Bansal, were arrested by the Enforcement Directorate (ED) in connection with a money laundering case related to a former judge who presided over the Central Bureau of Investigation (CBI) and ED courts in Panchkula.
In April of this year, the Punjab and Haryana High Court suspended Sudhir Parmar, a former special court judge who was also serving as a special CBI judge. The case was also filed against Sudhir’s nephew, Ajay Parmar, and the director of M3M India Private Limited, Roop Bansal.
The two directors were arrested by the top agency on Wednesday in accordance with the Prevention of Money Laundering Act. In another money laundering case involving the IREO group and its promoter Lalit Goyal, the ED conducted raids against the M3M promoters and several other individuals on June 1.
Roop Kumar Bansal and the other two directors, Basant Bansal and Pankaj Bansal, subsequently received temporary protection from arrest in this case from the Delhi High Court till July 5. Then, on June 8, the agency arrested Roop Bansal, the director of M3M India and Basant’s brother, in connection with another PMLA case.
The judge was accused of favouritism in the ED and CBI proceedings against the directors of the M3M group and another real estate group known as IREO, according to the case filed by the ACB. Everyone who has been charged in the ACB case has asserted their innocence. The ED said in a statement released on June 1 following the raids that a sizable sum of money, amounting to hundreds of crores, had been stolen through the M3M group in the case against the IREO group.