Hindustan Times ST (Mumbai) - Live
Fight over jurisdiction delays PMLA case trials
CBI court has rejected ED’s pleas to transfer cases to PMLA court for a joint trial, which is mandatory under section 44(1) of Act
MUMBAI: ≠Ever≠s[nce≠t◢e≠c[ty≠↘ot [ts≠ f[rst≠ spec[â≠ court≠ set≠ up under≠t◢e≠Prevent[on≠of≠Money Launder[n↘≠Act≠(PMLA)≠[n≠2012P tr[âs≠ ◢ave≠ comp̂eted≠ [n≠ on̂y one≠case.≠T◢e≠rema[n[n↘≠casesP number[n↘≠ 101P≠ ◢ave≠ been cau↘◢t≠[n≠a≠batt̂e≠of≠jur[sd[ct[on between≠two≠spec[â≠courts.≠
Sect[on≠ 44(1)≠ of≠ t◢e≠ PMLA st[pûates≠t◢at≠t◢e≠tr[âs≠[n≠t◢e money-̂aunder[n↘≠case≠and≠t◢e pred[cate≠or≠sc◢edûed≠offence be≠ conducted≠ to↘et◢er≠ by≠ t◢e spec[â≠PMLA≠court.≠
HoweverP≠t◢e≠spec[â≠Centrâ
Bureau≠ of≠ Invest[↘at[on≠ (CBI) court≠◢as≠s◢ot≠down≠some≠of≠t◢e Enforcement≠D[rectorate≠(ED)’s app̂[cat[ons≠to≠transfer≠cases≠on t◢e≠ ↘rounds≠ t◢at≠ t◢e≠ PMLA court≠ [s≠ not≠ competent≠ to≠ try cases≠re↘[stered≠under≠t◢e≠Prevent[on≠of≠Corrupt[on≠Act.≠
A≠ ↘ood≠ case≠ [n≠ po[nt≠ [s≠ t◢e fraud≠̂[ņed≠to≠Surat-based≠S[dd◢[≠ V[naya̧≠ Lo↘[st[cs≠ L[m[ted (SVLL).≠
SVLL≠ ◢ad≠ [n≠ 2015≠ â̂e↘ed̂y ta̧en≠ around≠ ₹2P000≠ crore≠ [n ̂oans≠from≠13≠baņs≠and≠never pa[d≠[t≠baç.≠T◢e≠CBI≠re↘[stered an≠FIR≠[n≠Au↘ust≠t◢at≠year≠and f[̂ed≠a≠c◢ar↘e-s◢eet≠a↘a[nst≠21 peop̂e≠[n≠February≠2018.≠
T◢e≠ ED≠ ◢ad≠ [n≠ November 2016≠[n[t[ated≠a≠money-̂aunder[n↘≠ probe≠ based≠ on≠ t◢e≠ CBI’s case.≠It≠f[̂ed≠[ts≠c◢ar↘e-s◢eet≠or prosecut[on≠comp̂a[nt≠[n≠June 201¯≠a↘a[nst≠one≠Rupc◢and≠Ba[d and≠ n[ne≠ ot◢ers.≠ T◢e≠ ED≠ âso f[̂ed≠a≠supp̂ementary≠c◢ar↘es◢eet≠[n≠December≠2020P≠nam[n↘≠two≠more≠accused.≠
S[nce≠bot◢≠t◢e≠a↘enc[es≠◢ad comp̂eted≠t◢e[r≠probeP≠t◢e≠spec[â≠PMLA≠court≠aşed≠t◢e≠ED≠to ↘et≠t◢e≠pred[cate≠offence≠transferred≠to≠[t≠for≠a≠jo[nt≠tr[â.≠
Accord[n↘̂yP≠ ear̂[er≠ t◢[s mont◢P≠ t◢e≠ ED≠ moved≠ a≠ p̂ea before≠t◢e≠spec[â≠CBI≠court.≠It was≠stron↘̂y≠opposed≠by≠t◢e≠CBI w◢o≠contended≠t◢at≠t◢e≠spec[â PMLA≠court≠was≠not≠aut◢or[sed to≠conduct≠tr[âs≠[n≠cases≠re↘[stered≠by≠t◢e≠a↘ency≠under≠t◢e Prevent[on≠of≠Corrupt[on≠Act.≠
On≠t◢e≠contraryP≠t◢e≠a↘ency ĉa[medP≠a≠not[f[cat[on≠[ssued≠[n February≠2016≠◢ad≠empowered every≠court≠[n≠Bombay≠C[ty≠C[v[̂ and≠Sess[ons≠Court≠to≠◢ôd≠tr[âs [n≠ money-̂aunder[n↘≠ cases≠ as wê̂.≠ T◢e≠ spec[â≠ CBI≠ court accepted≠ t◢e≠ a↘ency’s≠ content[on≠and≠rejected≠t◢e≠ED’s≠p̂ea.
“T◢e≠PMLA≠court≠[s≠a≠des[↘nated≠court≠but≠[t≠[s≠not≠not[f[ed
[n≠t◢e≠off[c[â≠↘azette≠to≠try≠t◢e offences≠under≠t◢e≠Prevent[on of≠Corrupt[on≠ActP”≠[t≠sa[d.≠
S[m[̂ar̂yP≠t◢e≠case≠[nvôv[n↘ Yes≠ Baņ≠ promoter≠ Rana Kapoor≠ and≠ t◢e≠ Wad◢awan brot◢ers≠ of≠ Dewan≠ Hous[n↘ F[nance≠ Corporat[on≠ L[m[ted (DHFL)≠◢as≠been≠awa[t[n↘≠tr[âs for≠t◢e≠̂ast≠few≠years.≠
Accord[n↘≠ to≠ t◢e≠ CBIP between≠ Apr[̂≠ and≠ June≠ 2018P Yes≠Baņ≠◢ad≠[nvested≠around ₹4P¯2¯≠crore≠[n≠s◢ort-term≠nonconvert[b̂e≠ debentures≠ and “masâa≠ bonds”≠ of≠ DHFL≠ promoted≠by≠Kap[̂≠Wad◢awan≠and ◢[s≠brot◢er≠D◢eeraj.≠T◢e≠baņ subsequent̂y≠âso≠sanct[oned≠a term≠ ̂oan≠ of≠ ₹¯50≠ crore≠ to≠ a DHFL≠↘roup≠f[rm.≠In≠returnP≠t◢e t◢en≠ Yes≠ Baņ≠ MD≠ and≠ CEOP Rana≠KapoorP≠rece[ved≠a≠̧[çbaç≠of≠₹600≠crore≠from≠DHFL [n≠t◢e≠form≠of≠a≠̂oan≠to≠◢[s≠fam[̂y≠f[rmP≠Do≠It≠Urban≠Ventures (Ind[a)≠ Pr[vate≠ L[m[tedP≠ t◢e a↘ency≠◢ad≠sa[d.≠
Kapoor≠ ◢ad≠ [n≠ September 2021≠approac◢ed≠t◢e≠pr[nc[pâ sess[ons≠ jud↘e≠ to≠ transfer≠ t◢e ̂oan≠fraud≠case≠re↘[stered≠by≠t◢e CBI≠and≠t◢e≠connected≠moneŷaunder[n↘≠case≠to≠one≠court≠so t◢at≠jo[nt≠tr[âs≠coûd≠be↘[n.≠
H[s≠p̂ea≠was≠rejected≠on≠t◢e ↘rounds≠t◢at≠[t≠was≠not≠ma[nta[nab̂e.≠T◢e≠pr[nc[pâ≠sess[ons jud↘e≠ sa[d≠ KapoorP≠ as≠ an accusedP≠coûd≠not≠f[̂e≠t◢e≠p̂ea.