Sc Order Paved Way For Bail To Ireo Md, Real Estate News, ET RealEstate

October 19, 2023

CHANDIGARH: The Supreme Court order granting bail to real estate firm M3M directors, Basant Bansal and Pankaj Bansal of Gurugram paved the way for bail from the special Prevention of Money Laundering Act (PMLA) court in Panchkula for Lalit Goyal, MD of Ireo Group.

Goyal was granted bail on October 13 but the 17-page order of special judge, PMLA court, Haryana thoroughly examined alleged violations related to his arrest by the enforcement directorate in the context of Supreme Court orders.

On October 3, the Supreme Court granted bail to the Bansals, who had challenged the procedure adopted by the enforcement directorate (ED) to arrest them. Granting them regular bail, the apex court hauled up the ED, while referring to violation of Section 19 of the PMLA Act, which deals with compliance of formalities related to arrest of the accused.

On June 13, ED arrested Pankaj Bansal and Basant Bansal by registering the ECIR (Enforcement Directorate Information Report) on the basis of an FIR registered by the Anti Corruption Bureau (ACB) in April. On July 4, the ED arrested Lalit Goyal, MD of Ireo group. Goyal applied for bail on medical grounds, which was dismissed in August. However, after the Supreme Court verdict on Bansals’ plea, Goyal moved bail for the second time.

The defence counsel argued that while arresting the applicant on July 4, 2023, ED completely flouted Section 19 of the PMLA by not informing him of the grounds of arrest and supplying him a copy of the written grounds of arrest mentioning reasons for forming the belief by the authorised officer that the person proposed to be arrested was guilty of an offence punishable under PMLA.

The judge observed, “I am of the considered opinion that respondent-ED did not do what was required to be done for making meticulous compliance of Section 19 during arrest of applicant-accused on 04.07.2023. It is seen from the record that though grounds of arrest were prepared in writing but the same were never furnished to the applicant-accused. I am able to make up this opinion upon going through the reply dated 11.07.2023 wherein there is absolutely nothing even remotely suggesting that written grounds of arrest were ever supplied to the applicant-accused.’’

Adding that the reply saying that grounds of arrest were read to the accused in the presence of two witnesses and were recorded in written in the arrest memo, which the accused refused to sign, the judge said, “In my considered opinion, this was not compliance of mandate of Hon’ble Supreme Court, which holds in no uncertain terms as to supply of written grounds of arrest to the arrested person in all cases and without exception.”

  • Published On Oct 19, 2023 at 08:25 AM IST

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