Omkar Group money laundering case: Bombay HC to hear ED’s plea against Sachiin Joshi’s bail

Mumbai: The Enforcement Directorate (ED) has moved a plea before the Bombay High Court to cancel the bail granted to actor-businessman Sachiin Joshi, arrested in a money laundering case involving real estate developers Omkar Group. The high court will be hearing the ED’s plea today.

Joshi who was arrested by the agency in February this year, was granted bail by a special Prevention of Money Laundering Act (PMLA) on April 9. ED in its chargesheet against Joshi, Omkar Group promoters Babulal Varma, Kamal Kishor Gupta and 14 other firms had stated that the promoters of Omkar Group had taken a loan of Rs 410 crore from Yes Bank to construct building under the Slum Rehabilitation Authority (SRA) scheme at Wadala but had diverted the money to the other group companies.

Joshi and his Viking Group of companies allegedly had helped Omkar Group launder money to the tune of Rs 87 crore which was used for other purposes, claimed ED in its chargesheet.

Joshi's name came to the fore when ED was scanning documents seized during the search and seizure operation carried out at the premises of Omkar Developers.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal