STOCK MARKET BSE NSE

Sandeep Nair, Sarith get bail in ED case

However, they will not be released from jail as they are in preventive detention under COFEPOSA in a case filed by the customs.

Published: 29th April 2021 05:20 AM  |   Last Updated: 29th April 2021 05:20 AM   |  A+A-

File photo of NIA team, along with gold smuggling case accused Sarith Kumar, leaving a residential apartment near Secretariat in Thiruvananthapuram after evidence collection on Tuesday | B P Deepu

By Express News Service

KOCHI: Ernakulam principal sessions court, which is also the special court for Prevention of Money Laundering Act (PMLA) cases, granted bail to the first accused Sarith PS and fourth accused Sandeep Nair in the gold smuggling incident in which diplomatic baggage was used to bring in contraband from the UAE. 

Even though the Enforcement Directorate (ED), which is probing the money laundering angle behind the smuggling, objected to the bail claiming they are prime suspects, the court rules in favour of the duo considering the investigation against them has completed. They are currently in judicial custody as part of the probe in ED case since last October. 

The court ordered the duo to execute a bond worth Rs 5 lakh with two solvent sureties. The court also asked them to surrender their passports.However, they will not be released from jail as they are in preventive detention under COFEPOSA in a case filed by the customs.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp