Basant Bansal and his son Pankaj Bansal, proprietors of the Gurugram-based M3M company, were detained by the Enforcement Directorate (ED) in connection with a money laundering case involving a former judge who ruled over the Central Bureau of Investigation (CBI) and ED courts in Panchkula.
Sudhir Parmar, a former special court judge who was simultaneously working as a special CBI judge, was suspended by the Punjab and Haryana High Court in April of this year. Sudhir’s nephew, Ajay Parmar, and Roop Bansal, the director of M3M India Private Limited, were also charged. The top agency arrested the two directors on Wednesday in accordance with the Prevention of Money Laundering Act. On June 1, the ED raided the M3M promoters and numerous other individuals in another money laundering investigation involving the IREO organisation and its promoter Lalit Goyal.
The Delhi High Court granted Roop Kumar Bansal and the other two directors, Basant Bansal and Pankaj Bansal, temporary protection from arrest in this case till July 5. The agency then detained Roop Bansal, the director of M3M India and Basant’s brother, on June 8 in connection with another PMLA case. According to the charge filed by the ACB, the judge was accused of favouritism in the ED and CBI procedures against the directors of the M3M group and another real estate business known as IREO. Everyone charged in the ACB case has maintained their innocence. Following the raids, the ED said in a statement made on June 1 that a large sum of money, amounting to hundreds of crores, had been taken through the M3M group in the case against the IREO group.
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