ED had challenged the order passed by Special Court whereby it had released accused, Babulal Varma and Kamalkishor Gupta in light of recent Supreme Court which held that the offence under PMLA, 2002 is not a stand-alone offence and does not stand when the Scheduled offence upon which it is based is not in existence anymore.
Enforcement Directorate in its case had alleged that Babulal Varma and others had availed a loan of Rs. 410 crore from
which had been diverted and not used for the intended purpose and has thereby committed offence of money laundering.
Advocate Vijay Aggarwal appearing for Babulal Varma argued before the Bombay High Court that Enforcement Directorate was not entitled to be heard as while being given the circulation to list they had first mentioned the matter before the bench of Justice Dhangre which had clearly stated that it is not inclined to interfere with the order which has been passed by Special Court and further remarked that there are experienced persons to adjudicate upon the same at the dias in Sessions Court.
Advocate Aggarwal argued that Enforcement Directorate have after failing to get any order in its favour tried to change the label of their petition and subsequently moved before this bench. He…
