PMLA Court Grants Bail To Former Religare Executives In ₹179 Crore Money Laundering Case

Mumbai: The special Prevention of Money Laundering Act (PMLA) court on Thursday granted bail to Nishant Singhal, former president and general counsel at Religare Enterprises Ltd (REL), and Nitin Aggarwal, former group CEO, REL, who have been named as accused by the Enforcement Directorate (ED) in the prosecution complaint filed for money laundering.

Singhal and Aggarwal had appeared on Thursday answering the summons by the special court while taking cognisance of the prosecution complaint filed by the ED last year, for alleged money laundering of ₹179.54 crore, against Rashmi Saluja, former executive chairperson at REL and non-executive chairperson at Care Health Insurance Ltd, Singhal, Aggarwal and others.

Upon their appearance, they were formally taken into custody, followed by which their lawyers had sought bail. It was contended that since they were not arrested during the probe, their custody is not needed. The special court considering the pleadings granted them bail.

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