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HC dismissed interim bail plea of Religare Enterprises promoter on Covid19 ground

May 19, 2020[2020] 116 577 (Delhi)

FEMA, Banking & Insurance : Where complaint was filed by Directorate of Enforcement that petitioner who was promoter of Religare Enterprises (REL) was allegedly involved in acquisition and utilization of proceeds of crime generated out of the criminal activity and its projection as untainted property and had, thus, committed an offence of money laundering in terms of Section 3 of PMLA Act, 2002, it was held that allegations against petitioner of alleged commission of economic offences inter alia punishable under the PMLA Act, 2002 as also punishable under Section 409 of the Indian Penal Code, 1860, which is punishable with imprisonment for life or that which may extend to 10 years and to a fine and, thus, case of petitioner clearly did not fall within parameters of guidelines laid down by the High Powered Committee of High Court for release of prisoners on interim bail due to COVID-19 pandemic and petitioner's application for grant of interim bail on ground that offences alleged against him were in nature of an economic offence was to be rejected

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