Mumbai: A special court has denied actor and businessman Sachiin Joshi, an accused in a money laundering case concerning Omkar Realtors and Yes Bank, the permission to travel to Geneva, Switzerland, stating that the Enforcement Directorate's apprehension that he may be a flight risk cannot be ignored.
The actor had said in his plea that his elder daughter aged 13 years studies in Switzerland and that there was a miscommunication with the school, due to which she may be removed. He said he needed to travel abroad for three weeks to sort the issue and also be there for his daughter's emotional support.
Special Judge under the Prevention of Money Laundering Act (PMLA) MG Deshpande said in the order that the ED has specifically contended that he is a flight risk and the offence against him is serious under the PMLA. “When the flight risk is expressed by the ED, the same cannot be overlooked and ignored. Once the applicant leaves India and if did not return, the purpose of trial will frustrate,” the order stated.
Judge Deshpande said it appears that there is some financial breach of the school rules committed by Joshi and that it can be restored by depositing the amount directed by the school in its account. Regarding the aspect of emotional support, the court said he can invite his daughter to India for some days by requesting the school management.
The ED alleges Joshi helped the Omkar group launder a part of a loan of Rs. 410 crores it had taken from Yes Bank through his firms. The loan had been taken for redevelopment of a Wadala project but not used for the sanctioned purpose.
