New Delhi [India], April 17 : The Patiala House Court of Delhi has dismissed a default bail plea of Unitech's former promoters Sanjay Chandra and Ajay Chandra in connection with a money laundering case registered by the Enforcement Directorate (ED).
The Directorate of Enforcement has recorded the Enforcement Case Information Report (ECIR) in 2018 based on several FIRs registered by the Economic Offences Wing (EOW) of Delhi Police under Sections 406/409/120B /420/34 of the IPC on the allegations of layering and laundering of home-buyers money in the projects of the said company i.e.
The Additional Sessions Judge Dheeraj Mor in an order passed on April 12 stated that "It is evident that investigation qua the applicants were completed within the statutory period of limitation and therefore, the applicants are not entitled to statutory right of default bail under Section 167(2) CrPC."
"Accordingly, both the applications of accused persons namely Ajay Chandra and Sanjay Chandra for seeking default bail under Section 167(2) CrPC are dismissed. It has been abundantly established that the investigation qua the applicants was concluded with the filing of a supplementary prosecution complaint and further investigation in this case is only pending qua other persons and further Proceeds of Crime," said the court.
As per Section 167(2) CrPC, if the investigation is not concluded within the prescribed period of limitation from the date of arrest of the accused, he has an indefeasible statutory right to be released on default bail.
However, if the investigation is concluded within the prescribed period of limitation, his right to be released on default bail ceases to exist, and his further detention during his trial is governed by Section 309 CrPC.
The court noted that the ED filed the first prosecution complaint in this ECIR under Section 44 read with Section 45 of PMLA for the offence under Section 3 and punishable under Section 4 of PMLA against 17 accused persons, including 14 companies and three individuals namely Ramesh Chandra, Preeti Chandra and Rajesh Malik, before this court on December 2, 2021, and its cognizance was taken on December 22, 2021, by this court.
Both the applicants were arrested in this ECIR on December 20, 2021, and a supplementary prosecution complaint against 54 additional accused persons, including both the applicants herein under the said sections, was filed in the court on February 17, 2022, i.e., within 60 days of the arrest of the applicants.
On the same date, i.e., February 17, 2022, this court took cognizance of the said supplementary prosecution complaint and observed that there is sufficient material available on record to proceed against the accused persons arraigned in it.