Virbhadra PMLA case: Court grants bail to bizman
NEWDELHI: A special court on Friday granted bail to a businessman arrested in connection with a multi-crore money laundering case against former Himachal Pradesh chief minister Virbhadra Singh and others.
Special judge Arvind Kumar granted relief to Vakamulla Chandrasekhar, director of Tarini Group of Companies, noting that no purpose would be served by keeping him in further custody.
Chandrasekhar was arrested on February 15 under the Prevention of Money Laundering Act (PMLA) and was in judicial custody. The agency had said he “had provided Rs 5.9 crore to Singh and his family members through his three bank accounts”.
It had said when the source of funds was enquired into, it came to light that the amount was received through a web of firms indulging in accommodation entry operation.
The court had on February 12 summoned Singh, his wife and three others as accused in the case, after taking cognisance of the ED chargesheet against them and others, saying there was “prima facie” evidence against the accused and directed them to appear on March 22.
The ED had listed in a chargesheet against 83-year-old Singh, accusing him of projecting around Rs 7 crore “proceeds of crime” as agricultural income in connivance with his wife and others and invested them in purchasing LIC policies.
Besides Singh and his 62-yearold wife Pratibha Singh, the court summoned Universal Apple Associate owner Chunni Lal Chauhan and two other co-accused, Prem Raj and Lawan Kumar Roach.
The final report also named as accused Life Insurance Corporation (LIC) agent Anand Chauhan, against whom a charge sheet was earlier filed by the agency.
All six have been named in the charge sheet under relevant provisions of the Prevention of Money Laundering Act (PMLA).
Chauhan, arrested on July 9, 2016 by the ED under relevant provisions of the PMLA, was granted bail on January 2 in the case.
In the charge sheet against Virbhadra Singh, the ED said, “The proceeds of crime acquired by Virbhadra Singh were projected as agricultural income with the help of Anand Chauhan, LIC agent and Chunni Lal Chauhan and were invested into insurance policies purchased in the name of Singh and his family members and a major part of it, after crisscrossing through various bank accounts found way into acquisition of immovable property.”
SPECIAL JUDGE ARVIND KUMAR GRANTED RELIEF TO VAKAMULLA CHANDRASEKHAR, DIRECTOR OF TARINI GROUP OF COMPANIES, NOTING THAT NO PURPOSE WOULD BE SERVED BY KEEPING HIM IN FURTHER CUSTODY