India bulls HF Officials ‘Stop’ ED Sleuths from Conducting Searches

Mumbai: Sleuths from the Enforcement Directorate (ED) probing a money laundering case against India Bulls Housing Finance were “stopped” mid-way by the officials at the company’s premises from carrying out searches after the latter claimed that they had a restraining order from the Bombay High Court in the case pursued by the agency.

They agency was carrying out searches in connection with a 2021 money laundering case registered by the agency in connection with a plot in Palghar on the outskirts of Mumbai. While the restraining order from the Delhi High Court was in connection with a different case, the officials insisted that no coercive action be taken until the Bombay High Court hears its matter.

“Our client is also named in the ECIR no 07/HUI/2021 and is in the process of filing a writ petition during the course of the day before the HC. In view of the facts and keeping in mind the letter and spirit of the order dated 21/2/2022 passed by the HC, since our client is similar situated to the petition in WP (Crl) No 408/2020 and accordingly you are requested not to take any coercive action against our client till the hearing of the petition proposed to be filed by our client,” the company wrote to the ED in its communication.

In its filing before the exchange, the company said, “We wish to inform that the Enforcement Directorate has sought some information regarding certain clients and the matter originates from ECIR No. 07/HUI/2021 filed by ED on the basis of FIR lodged in village Wada, Palghar, Maharashtra in April, 2021. The company and its officials have provided the data of clients to the Enforcement Directorate,” the filing states.

“The FIR is a copy-and-paste of earlier several patently false, vexatious and malicious complaints that the blackmailers have been circulating for last three years now, a similar allegations petition under name of Abhay Yadav was dismissed by the Supreme Court in 2019,” the statement added further. S-ET

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