SC Refuses Bail in ₹3269 Crore Bank Fraud-Linked Money Laundering Case Under PMLA

Tarun Kumar Vs Assistant Director Directorate of Enforcement (Supreme Court of India) The Supreme Court considered an appeal challenging the Delhi High Court’s order dated 18 July 2023 refusing bail to the appellant in a money laundering case investigated under the Prevention of Money Laundering Act, 2002 (PMLA). The case arose from allegations of financial irregularities and bank fraud involving Shakti Bhog Foods Ltd. (SBFL). A consortium of banks led by the State Bank of India had appointed a forensic auditor to examine SBFL’s accounts for the period 1 April 2013 to 31 March 2017. The fo...