States

No stay on proceedings against gold bizman: HC

By Express News Service

HYDERABAD: The Telangana HC on Thursday refused to go any orders in petitions filed by gold businessman Sukesh Gupta and others searching for a stay of all proceedings and their arrest in a case registered by the Enforcement Directorate beneath the PMLA 2002, because the FIR was registered in Mumbai and the ED of Hyderabad has additionally agreed to switch its case to Mumbai.

Advocate Mukul Rohatgi, showing for one of many petitioners, advised the court docket that his consumer had given a mortgage of `48 crore to Mumbai-based Niharika Infrastructure to buy a palace, however the latter didn’t repay. As per the settlement, the petitioner took over the palace. The Hyderabad ED then registered a case against the petitioners primarily based on Niharika’s grievance. Though there is no such thing as a cash laundering case, the ED has given notices to the petitioners, he added.

ASG of India for Southern zone T Surya Karan Reddy, showing for the ED, mentioned the case will be transferred to Mumbai for the reason that FIR was already registered in a associated case. After listening to the submissions, the HC declined to go any orders and disposed of the petitions. 

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button