The Delhi High Court dismissed an anticipatory bail application filed by a Director of Hong Kong-based Broway Group Ltd., in connection with an Enforcement Directorate (ED) investigation under the Prevention of Money Laundering Act (PMLA), 2002. The Petitioner’s company is accused of receiving ₹20.75 crores from Indian entity M/s Mizta Tradex Pvt. Ltd. under the pretext of importing semiconductor devices.
The ED alleged the transaction was part of a wider money laundering network involving forged documents and shell companies, with over ₹300 crores remitted illegally.
Justice Ravinder Dudeja noted that the petitioner failed to comply with multiple ED summonses and showed a pattern of evasion. The Court held that custodial interrogation was necessary to investigate the extent of petitioner’s involvement and rejected the argument that he was implicated merely as a director.
Applying the twin conditions under Section 45 of the PMLA, the Court found that the petitioner failed to demonstrate either non-involvement or his willingness to cooperate with the investigation. The Court also noted his residence abroad, lack of assets in India, and risk of flight. Accordingly, the application for anticipatory bail was dismissed.
Appearances:
Appellant: Ms. Anjali Jha Manish, Mr. Priyadarshi Manish, Ms. Madhuri Malegaonkar and Mr. Paras Aneja, Advs.
Respondent: Mr. Zoheb Hossain, Spl. Counsel, Mr. Vivek Gurnani, Panel Counsel with Mr. Kartik Sabharwal, Mr. Kanishk Maurya, Mr. Pranjal Tripathi, Mr. Anand Khatri & Ms. Ilma Khan, Advs.
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