On Wednesday(1st May),Delhi High Court issues notice in ED’s plea contesting bail granted to Nitin Bhatnagar, a Maltese national, in Moser Baer money laundering case. ED challenges previously granted bail; High Court takes action.
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NEW DELHI: On Wednesday(1st May),the Delhi High Court took a significant step by issuing a notice in response to a plea filed by the Enforcement Directorate (ED). This plea challenges the previously granted bail to Nitin Bhatnagar, a Maltese national, in connection with money laundering case linked to Moser Baer India Ltd.
Justice Navin Chawla, presiding over the case, not only issued the notice but also accorded Nitin Bhatnagar the opportunity to file a response. The matter is set to be revisited in a hearing scheduled for July 24.
During the proceedings, Zoheb Hossain, serving as special counsel for the Enforcement Directorate (ED), advocated for a stay on another consequential legal matter. He petitioned the court to adjourn the hearing of an application submitted by Bhatnagar, which seeks permission for him to travel abroad. Presently, this application is pending adjudication in the trial court.
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In response, Justice Chawla made an observation about the independence of the trial court, noting-
“The trial court is empowered to evaluate the request for permission to travel overseas in adherence to legal principles, independent of the pending cancellation plea lodged by the Enforcement Directorate in the high court.”
It was further highlighted during the hearing that should the trial court grant Bhatnagar permission to leave the country, he is required to inform the High Court prior to his departure.
Representing Nitin Bhatnagar was senior advocate Vikas Pahwa, who, along with his legal team.
This case originated from a thorough investigation by the Enforcement Directorate (ED), triggered by a complaint lodged on August 17, 2019, by the Central Bureau of Investigation (CBI). The complaint detailed various infractions under the Indian Penal Code and the Prevention of Corruption Act concerning Moser Baer India Ltd. and its associates.
The Enforcement Directorate (ED) enlisted Bhatnagar’s aid in establishing a bank account in April 2011 for Pristine River Investments Limited at the Bank of Singapore. According to the ED, this account played a significant role in the financial transactions linked to Ratul Puri, the nephew of Congress leader Kamal Nath, and his relatives, who are also embroiled in the investigation.
“Pristine River Investments Limited, a Dubai-based investment holding company, was established under the direction of Ratul Puri. The entity was wholly owned by the Savannah Trust, with Ratul Puri acting as the settlor of the trust.”
– detailed the ED’s findings.
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Furthermore, the ED has pointed out that Rajiv Saxena, a Dubai-based business operator, along with Rajiv Aggarwal, were integral to the operation, facilitating the laundering of large sums implicated in the case. As a result of these investigations, significant assets have been seized, including property valued at approximately USD 47.95 million.
