The special court for the Prevention of Money Laundering Act (PMLA) has refused to grant discharge to real estate dealer Ranjeet Bindra, booked in a money laundering case registered against gangster Iqbal Mirchi’s family. The court observed that he “actively participated in layering the proceeds of crime”.
While seeking discharge, Bindra pleaded that he simply acted as a broker in the transactions. He contended that 11 professionals were not charged despite their involvement. He said that the others, like him, travelled to London for property dealings but were not implicated.
His plea was opposed by the Enforcement Directorate (ED), which contended that he dealt with the proceeds of crime, assisting in layering them with full knowledge of their illicit origins.
The ED had claimed that Mirchi acquired or purchased three properties belonging to Mohammad Yusuf Trust in September 1986 for Rs6.5 lakh through his firm M/s Rockside Enterprises. These properties in Worli – namely Sea View, Marium Lodge, and Rambia Mansion – have a combined area of 4970.41 sq mt.
As per the prosecution complaint, Bindra, on behalf of Mirchi, proposed to sell these properties to Dheeraj Wadhawan, the promoter of M/s Dewan Housing Finance Ltd (DHFL), who expressed interest in acquiring them. Following negotiations and meetings involving Dheeraj Wadhawan and Mirchi, a deal was finalised in 2010.
Special judge MG Deshpande observed that, “the applicant (Bindra) was aware as to who Mirchi was, the source of his income and the transactions for the sale of these properties, wherein he acted as a broker”. The court said, “In ordinary course, a genuine broker knowing well such illegal activities of Iqbal Mirchi would not have entered the transaction in question…”
The court also said that Bindra held multiple meetings with Mirchi in Dubai and London. “What more is required to identify the role of the applicant and his active participation and involvement in layering and laundering the proceeds of crime,” the court said.
The ED had registered a case against Mirchi, his family members and others in the matter. Mirchi died at the age of 63 in London in 2013. The ED, in its chargesheet, has claimed that Mirchi bought properties in India using money earned through illegal activities and later sold them for redevelopment.
