Debangana Ray
Published on July 6, 2022 at 19:17 IST
A Special Court accepted the plea of the Enforcement Directorate to extend the custody of ABIL group Chairman and Builder Avinash Bhosale relating to a DHFL case of alleged money laundering.
Bosale was sent to further custody of ED till July 11. He has been arrested by the CBI, previously, in connection with the same case.
The ED in its remand plea had alleged that Bhosale along with co-accused Sanjay Chhabria illegally obtained funds up to 431 crore rupees in an entity owned by Bhosale.
It was alleged that during the same period Chhabria had received funds from the DHFL for the development of a project.
The enforcement directorate submitted in its remand plea that, “The project is still incomplete and the loan accounts have turned into NPA (non-performing assets).”
Lawyers Vijay Aggarwal and Rahul Agarwal representing Bhosale submitted that further custody is not required as the ED had not submitted valid reasons for seeking an extension.
Special Judge M G Deshpande said that, “while much of the investigation is over, further custody is required for the ED ‘to achieve finality to the investigation.“
