Mumbai, June 7: A special Prevention of Money Laundering Act (PMLA) court on Monday extended the Enforcement Directorate (ED) custody till June 9 of builder Yusuf Ladkdawala booked for money laundering in connection with land grabbing in Khandala of erstwhile Hyderabad Nawab Himayat Nawaz Jung Bahadur.
Lakdawala, 75, has been in the agency’s custody since his arrest on May 28. His custody was extended by the court on June 1 until Monday after the ED had informed the court that it found that Lakdawala’s 12 listed companies had properties bought between 2010 and 2019 in Lonavala which were disproportionate to their incomes.
On Monday, it sought his further custody for probe, telling the court that it had made substantial progress in its investigation in the past days and that some more details have come to be revealed about companies and properties acquired by the builder which can be termed as ‘proceeds of crime’. It said that with respect to these properties further probe is required.
Lakdawala’s advocate opposed his further custody and argued that the present case relates to a sale transaction and that ED’s contention that these are proceeds of crime cannot be accepted. His advocate also submitted that considering Lakdawala’s physical condition, he can be sent to house arrest.
The court while granting the agency further custody of the builder considered that from the investigation papers it is seen that material progress has been made by the ED in its probe. It also said that since the accused is 75 years old suffering from chronic diseases, the agency must provide necessary medicines and home food to him during the period.
