M3M money laundering case: "Drastic powers given to ED," Realty group on agency's radar tells SC

economictimes.indiatimes.com:

Supreme Court on Tuesday was told that the Enforcement Directorate (ED) has been given «drastic powers» in investigating money laundering cases and these powers need to be reined in. A bench of Justices AS Bopanna and MM Sundresh was hearing a batch of pleas relating to Gurugram-based realty group M3M under the Prevention of Money Laundering Act (PMLA). Senior advocate Harish Salve appearing on behalf of directors of realty group M3M said, «These are drastic powers given to the ED.

If the court does not rein them in, no one is safe in this country. See how the arrest was done. They were cooperating.

The arrest was in violation of my rights… These powers need to be reined in.» Salve and senior advocate Mukul Rohatgi were representing M3M directors, Basant Bansal and Pankaj Bansal who were arrested in a money-laundering probe related to a bribery case against a former judge. The bench in its order noted that the Bansal brothers would now be moving to the Punjab and Haryana High Court for anticipatory bail and disposed of their pleas. The top court was hearing a batch of pleas, including challenges to a recent Delhi High Court order that had refused to interfere with the arrest of M3M directors, in the money-laundering probe related to a bribery case against a former judge.

The Bansal brothers were arrested by the ED on June 14 under the Prevention of Money Laundering Act (PMLA). They were subsequently produced before a special PMLA court in Haryana's Panchkula, which sent them to five-day ED custody. On June 9, the High Court granted interim protection from arrest till July 5 to Basant and Pankaj Bansal in the money laundering case linked to real estate firm IREO.