Money laundering probe: Mumbai court grants bail to aide of Sena MLA Pratap Sarnaik

Kalyan-based builder Yogesh Deshmukh, a close associate of Shiv Sena legislator Pratap Sarnaik, is accuses in the alleged NSEL scam

A special Prevention of Money Laundering Act (PMLA) court on Thursday granted bail to Kalyan-based builder Yogesh Deshmukh, who is a close associate of Shiv Sena legislator Pratap Sarnaik, in the money laundering case related to the alleged National Spot Exchange (NSEL) scam.

Pratap Sarnaik’s company is been investigated as it allegedly received ₹11 crore from NSEL scam. Sarnaik had previously denied all the allegations against him. (HT File)

Special judge Dinesh E Kothalikar has, however, stayed the order till August 18 to allow the Enforcement Directorate (ED) to challenge it in the future before a higher court.

Deshmukh’s counsel Priyanka Dubey had argued that there was no progress in ED’s investigation. She also pointed out that though last time the bail was rejected on the grounds that further investigations was required and more arrests were to be done, Yogesh Chandegela – a relative of Sarnaik – was protected from arrest by the court.

Deshmukh was in custody since April 6, but the investigation had not been progressing, she said. They had also clarified that they were not challenging the attachments of plots at Titwala, which were allegedly purchased using the NSEL scam money.

The special court accepted her contentions. Observing that no progress was made by ED in the investigation and that the co-accused was protected by court orders, the special court granted bail to Deshmukh on a bond of ₹3 lakh.

However, on the request of special public prosecutor Sunil Gonsalves, the court stayed the order as ED intends to challenge it in the high court.

Sarnaik’s company is been investigated as it allegedly received ₹11 crore from NSEL scam. It is alleged Aastha Group defrauded NSEL of ₹250 crore and Sarnaik’s company Vihang Group allegedly helped it to launder the money.

Vihang and Aastha groups had formed a joint venture, Vihand Housing Projects, and had purchased plots in Titwala with Deshmukh’s help. ED was told that ₹22 crore was used to purchase the plots. However, the agency learnt only ₹1 crore had been used to purchase plots in Titwala while the other ₹11 crore was transferred to Sarnaik’s company and ₹10 crore to Deshmukh.

Sarnaik had previously denied all the allegations against him.