Arvind Dham Vs Directorate of Enforcement (Delhi High Court)
Delhi High Court held that bail in serious money laundering case involving defalcation of public money not granted as ED’s case is founded not on mere suspicion but on extensive documentary evidence, forensic audits, and statements recorded u/s. 50 of the PMLA.
Facts- The present proceedings arise out of an ECIR registered by the Enforcement Directorate (“ED”) pursuant to large-scale allegations of financial mismanagement, fraud, and money laundering within the Amtek Group of companies, including Amtek Auto Ltd., ACIL Ltd., and allied entities. The trigger for investigation was a Public Interest Litigation before the Supreme Court highlighting bank frauds exceeding ₹12,000 crores, alongside multiple FIRs lodged by the CBI and other agencies. These FIRs alleged diversion of funds and creation of shell entities to siphon public money. The alleged activities have caused immense losses to public sector banks. The scale of the matter necessitated a detailed investigation under the Prevention of Money Laundering Act, 2002 (“PMLA”).
The present application is being preferred under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 [“BNSS”] read with Section 45 of PMLA for grant of regular bail on behalf of Mr. Arvind Dham [“Petitioner”] who has been arraigned as Accused No. 1
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