New Delhi : The Supreme Court on Thursday refused to entertain the plea of realtor Sanjay Chhabria against an order of the Bombay High Court which refused to grant him bail in the Yes Bank money laundering case.
A bench of Justices Bela Trivedi and Pankaj Mittal said the offence was serious and the High Court had considered everything while deciding the issue.
Chhabria’s counsel then withdrew the plea and the matter was dismissed as “withdrawn.”
The ED’s case is that Chhabria had played a crucial role in diverting funds procured illegally
By Yes Bank Founder Rana Kapoor and Dewan Housing Finance Ltd promoter Kapil Wadhwan.
Chhabria was arrested by the ED on June 7, 2002, in connection with the Yes Bank DHFL money laundering case. On August 4, the same year, ED had submitted its chargesheet in the case.
A single bench of Justice M S Karnik at the Bombay High Court had dismissed Chhabria’s petition seeking default bail on the grounds that though the ED had submitted the chargesheet against him within the mandatory 60-day period, it had sought permission from the special court, conducting the trial, to carry on further probe in the case.
According to ED, the probe against Chhabria was not over and that the investigation against him was still going on.
The High Court had agreed with the ED that the offence of money laundering involved multiple interconnected transactions and it demands a detailed probe and that in this case, the agency was investigating an economic offence which demands an in-depth probe.
