Mumbai PMLA Court Rejects Discharge Plea Of Bharat Shah And Ruby Mills In ₹764-Crore SBI Loan Default-Linked Money-Laundering Case
The accused, Vijay and Ajay Gupta, promoters of Vindhyavasini Group, availed credit facilities through multiple companies between 2010 and 2013.
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Mumbai: The special PMLA court in Mumbai refused to discharge Bharat Shah and Ruby Mills in a money-laundering case linked to six CBI-registered FIRs for default cases causing a Rs764.44 crore loss to SBI’s Thane branch.
ED Probes Rs 155-Crore Deal
The accused, Vijay and Ajay Gupta, promoters of Vindhyavasini Group, availed credit facilities through multiple companies between 2010 and 2013. The ED alleged Shah received Rs155 crore from Rajput Retail Ltd. for selling two and a half floors in The Ruby, with funds diverted into shortterm deposits earning interest.
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Shah and Ruby Mills sought discharge, arguing misjoinder of six FIRs, claiming distinct transactions and lack of commonality justified separate trials. The ED countered that money laundering is distinct from predicate offences, citing similar multi-FIR cases nationwide. The court ruled, “The prosecution complaint cannot be dismissed at the threshold merely on the ground that it has been filed on the basis of six different FIRs and chargesheets, alleging misjoinder of such FIRs and charge-sheets in a single prosecution complaint.
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