Grant of anticipatory bail was rejected to persons accused of money laundering worth Rs. 220 Cr

Jagadish Nangineni Vs Directorate of Enforcement (Punjab and Haryana High Court) Conclusion: Since ED alleged that both assessees were actively involved in the planning and execution of all the transactions involving repeated transfer of funds and were accused of serious economic offences, therefore, grant of anticipatory bail to assessees at this stage would certainly result in putting a spoke in the wheel of the investigating agency and dampen their efforts in elucidating the required information from assessees. Thus, the Court rejected the anticipatory bail application. Held: Chintels India...