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Bombay High Court Rejects Shiv Sena Leader Anandrao Adsul's Pre-Arrest Bail Plea in PMLA Case

Sharmeen Hakim
3 Dec 2021 4:10 PM GMT
Bombay High Court Rejects Shiv Sena Leader Anandrao Adsuls Pre-Arrest Bail Plea in PMLA Case
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The Bombay High Court on Friday refused anticipatory bail to Shiv Sena leader and former MP Anandrao Adsul in connection with the alleged Rs 980 crore City Co-operative Bank fraud being investigated by the Enforcement Directorate. Justice Nitin W Sambre passed the verdict on Adsul's appeal seeking anticipatory bail. On October 14, the High Court had rejected Adsul's...

The Bombay High Court on Friday refused anticipatory bail to Shiv Sena leader and former MP Anandrao Adsul in connection with the alleged Rs 980 crore City Co-operative Bank fraud being investigated by the Enforcement Directorate.

Justice Nitin W Sambre passed the verdict on Adsul's appeal seeking anticipatory bail.

On October 14, the High Court had rejected Adsul's plea challenging the case registered against him by the Enforcement Directorate (ED). The HC, however, granted Adsul liberty to approached the court for anticipatory bail against coercive action.

Adsul approached the Special Court under the PMLA Act seeking anticipatory bail. While rejecting his interim plea for relief, the trial court observed that prima facie there was substance in the allegations against him.

Adsul's lawyers, Senior Advocate Ashok Mundargi and Advocate Subodh Desai explained that the special court had made certain observations while refusing interim relief therefore they approached the Bombay HC for final reliefs of anticipatory bail.

Case

ED's probe is based on a complaint filed by Adsul, who is a former chairman of the bank. He filed the complaint with the Mumbai police's Economic Offences Wing. Adsul was named as chairman of the bank in 2006.

Adsul alleged that loans were granted at very low or zero collateral. He accused bank officials of misappropriation.

The ED then stepped in to probe Adsul and his son Abjijeet's role, a director on the board of the bank. The ED alleged that the Sena leader seemed to have benefitted from these loans.

In 2014-15 an RBI audit showed certain irregularities in loan disbursement. In 2020, the EOW registered an FIR on charges of cheating and criminal conspiracy.

Adsul approached the Bombay High Court following summons from ED to record his statement.

In his ABA before the Bombay High Court, Adsul claimed that the trial court's order was arbitrary. Moreover, the ED failed to give reasons as to why he was being repeatedly summoned.

ED opposed Adsul's plea and said that it had substantial evidence against him. The evidence was produced in a sealed cover.


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