PMLA Court Stays Non-Bailable Warrant Against Gitanjali Group’s International Business Head Sunil Varma

The special PMLA court on Thursday stayed the non-bailable warrant against Gitanjali Group’s international business head Sunil Varma to facilitate his return to India and appearance before the court by July 18.

The Enforcement Directorate has alleged that “Varma, along with Mehul Choksi and other accused, was the brain behind the mammoth bank fraud which had been going on since 2013-14 onwards.

The applicant was the mastermind behind formation of shell companies in Gitanjali Group”. Varma has been named as accused by both the CBI and the ED in the PNB fraud case against Choksi. The non-bailable warrant against him was issued by the special court on August 2018 in connection with the money laundering case under PMLA.

The warrant was issued in July 2021 in the fraud case registered by CBI. In April, Varma had approached the Bombay High Court for cancellation of the warrant in the CBI case. It was claimed by CBI that when the agency went to serve the summons at his last known address in India, where his father resides, it was revealed that Varma had moved to the US.

Hence the CBI has obtained a warrant against Varma saying he had fled the country. However, last month while seeking cancellation of NBW, Varma said that he had left India much prior to registration of the case in 2017.

His lawyers Abad Ponda, Omkar Mulekar had submitted that Varma intends to return to India and wants a protection for the same. It was submitted that he is ready appear before the court on July 18.