Gujarat High Court sets aside Non Bailable Warrant against Prithviraj Kothari
Gujarat High Court has granted relief to Prithviraj Kothari, Managing Director of RSBL by setting aside a non bailable arrest warrant. In doing this, the HC has set aside the non-bailable arrest warrant issued by a special court for Prevention of Money Laundering Act (PMLA). The warrant was issued by the special court a few weeks ago. Justice Abhilasha Kumari of Gujarat High Court had set aside the warrant.
The warrant had been issued in context with an investigation by Enforcement Directorate (ED) involving illegal laundering of money amounting to Rs 5000 crore from Chennai to Dubai with Surat acting as a gateway. This is one of the biggest money laundering racket being investigated by ED.
Once the special court issued non bailable arrest warrant, Prithviraj Kothari moved the petition to the High Court. Post a brief argument between the counsels of both the parties, the warrant was set aside. If sources are to be believed, the money was sent outside India in two months. The modus operandi included putting forged documents of diamond imports in a private bank in Surat and then money against was sent to Dubai, Hong Kong and Singapore.
Main accused in this case, Afroz Fatta and Madanlal Jain have already been arrested and questioned by ED. As per Enforcement Directorate, from Dec-13 to Jan-14, Afroz Fatta transferred Rs 700 crore to a bank in Switzerland and other tax havens.