Court Refuses Relief To Tops Group Promoter, Ex-MD In Money Laundering Case

Court refuses to give relief to promoter and former MD of Tops Group in money laundering case

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Mumbai :

A special court in Mumbai on Wednesday rejected the relief applications of former Tops Group managing director M Sasidharan and its promoter Amit Chandole, who were arrested in an alleged money laundering case. Chandole, a promoter of a private security company, is an alleged aide of Shiv Sena MLA Pratap Sarnaik. Chandole and Sasidharan sought their release from jail in light of the Supreme Court’s recent order that the case under the Prevention of Money Laundering Act (PMLA) cannot continue unless there is a First Information Report already filed by any other agency. Under the provisions of PMLA, it is necessary to have a ‘scheduled offence’ for initiating ED proceedings against a person. Chandole was arrested by the Enforcement Directorate in November 2020. Sasidharan was arrested a few months before that.

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The ED had registered its complaint on the basis of a case registered by the Economic Offenses Wing of Mumbai. But the same branch filed a closure report in the magistrate’s court in January 2022, saying there was no evidence of the offence. The magistrate court accepted the report last week. The accused then moved the court of special PMLA judge MG Deshpande seeking their release on the ground that the proceedings in the ED case could not continue.

The ED, in its reply, said that the closure report of the Economic Offenses Wing cannot be said to be final until the time for filing an appeal against it has elapsed. Did it

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(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)

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