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Home > Mumbai > Mumbai News > Article > Bombay High Court declines to cancel bail of Shiv Sena MLA Pratap Sarnaiks aide in money laundering case

Bombay High Court declines to cancel bail of Shiv Sena MLA Pratap Sarnaik's aide in money laundering case

Updated on: 08 September,2021 12:00 AM IST  |  Mumbai
PTI |

Justice SK Shinde rejected the application filed by the Enforcement Directorate (ED) seeking cancellation of Yogesh Deshmukh's bail

Bombay High Court declines to cancel bail of Shiv Sena MLA Pratap Sarnaik's aide in money laundering case

Bombay High Court. File Pic

The Bombay High Court has refused to cancel the bail granted to Yogesh Deshmukh, a builder and associate of Shiv Sena Member of the Legislative Assembly (MLA) Pratap Sarnaik, in a money laundering case connected to the 2013 National Spot Exchange Ltd (NSEL) scam.


Justice SK Shinde rejected the application filed by the Enforcement Directorate (ED) seeking cancellation of Deshmukh's bail. Deshmukh was granted bail by a special court last month in the 2013 NSEL scam. The ED had challenged this bail before the HC.


The real estate developer was arrested by the ED on April 6 for his alleged role in the scam which related to default on payments worth Rs 5,600 crore at the NSEL.
Deshmukh's lawyers, Rajiv Chavan and Aniket Nikam, argued that there has been no progress in the investigation of the case since their client's arrest five months ago.


The special court had rejected Deshmukh's first bail application stating investigation was on and releasing him on bail would hinder the probe. However, the special court had granted bail to Deshmukh on his second application observing no progress had been made in the investigation and co-accused in the case had been given protection from arrest.

Sarnaik's company is being investigated for allegedly receiving Rs 11 crore from the NSEL scam money. It is alleged that one Aastha Group had defrauded the NSEL of Rs 250 crore and Sarnaik's company Vihang Group had helped launder this money.

Also Read: Money laundering case: Bombay High Court declines urgent hearing on plea by businessman Deepak Kochhar

Aastha Group and Vihang Group had formed a joint venture - Vihang Housing Project - and had purchased several plots at Titwala, a distant suburb of Mumbai, with Deshmukh's help, according to the ED. The financial probe agency has alleged Deshmukh fraudulently acquired some lands from farmers.

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