Bombay High Court Quashes ED Money Laundering Case Against Lawyer Kishor Devani, Close Aide Of Anil Deshmukh

Mumbai: The Bombay High Court quashed the Enforcement Directorate’s (ED) money laundering case against lawyer Kishor Devani, who is considered a close associate of former Maharashtra Home Minister Anil Deshmukh.

Visit orlando-books.blog for more information.

In a major relief to Devani, a single-judge bench of Justice Ashwin Bhobe set aside both the criminal proceedings initiated by the Enforcement Directorate and the process order issued against him, as reported by LiveLaw. Devani was accused of aiding Deshmukh and his family in laundering alleged illegal collections of nearly Rs 100 crore per month from bar owners in Mumbai.

What Were ED's Claims Against Devani?

The ED had claimed that Devani was a director of M/s Premier Port Links Private Limited since 2009, and that Deshmukh’s wife and son were joint shareholders in the firm. According to the agency, the company received a loan of Rs 100 crore, including Rs 2.20 crore allegedly sourced from a Deshmukh family-linked entity, M/s Flourish Properties Private Limited. The ED alleged that these funds were used to purchase land in Dhutum village as part of a layered money laundering transaction.

Bombay HC Issues Notice To ED, State On Anil Deshmukh’s Plea Seeking Fast-Track Hearing Of CBI Case

However, Devani argued that Premier Port Links was a jointly owned company, with a 50 per cent stake held by him and the remaining by the Deshmukh family, and that the Dhutum village properties were purchased between 2005 and 2007, well before the alleged proceeds of crime, which the ED itself placed between December 2020 and February 2021.

According to the report, after examining the chargesheets and material on record, Justice Bhobe observed that even if the ED’s allegations were accepted at face value, the alleged proceeds of crime arose much later than the property transactions in question. The court noted that there was no material to establish any link between the properties purchased in 2005–2007 and the alleged crime proceeds.

Also Watch:

Bombay HC Finds No Proceeds Of Crime

The judge further held that the ED failed to show that Devani had knowingly dealt with proceeds of crime, a key requirement under Sections 3 and 4 of the Prevention of Money Laundering Act. The court also criticised a September 16, 2021, order of a special PMLA court in Mumbai, stating that it did not demonstrate application of mind or satisfy the test of sufficient grounds for proceeding against Devani.

Concluding that no prima facie case was made out, the High Court quashed the ED complaint as well as the process issued against Devani, bringing an end to the proceedings against him in the high-profile case.

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/

Read at source