New Delhi: The Delhi High Court said Tuesday it would hear next week the Enforcement Directorate’s (ED) plea seeking modification of its interim order not to take any coercive action against Bhushan Steel ex-promoter Neeraj Singal in view of summons issued to him in a money laundering case.
A bench of Chief Justice DN Patel and Justice C Hari Shankar listed the application for hearing January 21 after Singal’s counsel sought another date.
The ED application said the court December 18, 2019 had restrained it from ‘taking coercive steps which essentially include a direction in the nature of an anticipatory bail to not arrest Singal’.
The plea, filed through central government standing counsel Amit Mahajan, has sought vacation of the interim protection granted to Singal, represented through advocate Arshdeep Singh.
The ED had issued summons to Singal in the money laundering case registered in connection with alleged siphoning of funds worth over Rs 2,000 crore.
The court had earlier issued notice to the Centre and the ED, seeking their stand on Singal’s plea for a declaration that the Prevention of Money Laundering Act (PMLA) cannot be made applicable retrospectively, and directed him to cooperate with the investigation.
The ex-promoter of Bhushan Steel has sought quashing of the Enforcement Case Information Report (ECIR) lodged by the agency in connection with the fraud case against him and the consequential proceedings. He said the offence was added to the schedule of offences under PMLA after the act was amended.
Under the PMLA, there is a schedule of offences in connection with which the ED has the power to register money laundering cases.
According to Singal’s plea, section 447 of the Companies Act which provides the punishment for fraud was added to the scheduled offences after the amendment and, therefore, the ED cannot take action against him for that.