High court seeks businessman’s reply on ED plea

ED HAD CHALLENGED BAIL GRANTED TO THE BUSINESSMAN IN CONNECTION WITH MULTICRORE MONEY LAUNDERING CASE INVOLVING FORMER HIMACHAL PRADESH CM VIRBHADRA SINGH

NEW DELHI : The Delhi High Court on Friday sought the response of a businessman on a plea by ED challenging bail granted to him in connection with a multi-crore money laundering case involving former Himachal Pradesh chief minister Virbhadra Singh.

Justice Anu Malhotra asked the ED’S counsel what was wrong with the trial court’s bail order and what was the evidence against the accused and listed the matter for further hearing on May 31. Vakamulla Chandrasekhar, the director/promoter of Tarini Group of Companies, was granted bail by a trial court in March 9, noting that no purpose will be served by keeping him in further custody. During the hearing, advocate Nitesh Rana appearing for ED, argued that it was a case of economic offence which has to be kept at a higher pedestal and the allegation against the accused were of serious nature.

He contended that Chandrasekhar had helped Singh in laundering crores and said the probe agency’s investigation was still in progress.

Chandrasekhar was arrested on February 15 under the Prevention of Money Laundering Act (PMLA) and was in judicial custody before getting bail. The ED had alleged that Chandrasekhar “had provided ₹5.9 crore to Singh and his family members through his three personal bank accounts”.