Chief Financial Officer (CFO) of Cox and Kings Group Anil Khandelwal on Thursday filed a bail application before the special Prevention of Money Laundering Act (PMLA) court.
In December, the court had denied him bail along with denying bail to his co-accused and Internal Auditor of the group Naresh Jain. Both their bail pleas had been on merits of the case. Their advocates had argued before the court that they were not in managerial positions and the amounts that were allegedly laundered were not public money, but private money. They had both told the court that it is the promoter of the company - Peter Kerkar, who had also been arrested by the Enforcement Directorate (ED) recently, who was responsible for the offence.
The ED had opposed their pleas and told the court that the huge amount of over Rs. 3,600 crores that was laundered was, no doubt, public money. The agency had further told the court that though Jain and Khandelwal had no standing in the subsidiary Ezeego of Cox and Kings, the agency had learnt that they had played a role in its diversion through the subsidiary. Khandelwal was arrested in early October last year.
