New Delhi: The Supreme Court docket on Tuesday quashed the cash laundering investigation initiated by the Enforcement Directorate (ED) in opposition to Karnataka Deputy Chief Minister DK Shivakumar.
A bench headed by Justice Surya Kant was listening to a particular depart petition filed by the Congress chief in opposition to the Karnataka Excessive Court docket's choice refusing to quash the summons issued to him by the central anti-money laundering company.
The ED initiated investigation underneath the Prevention of Cash Laundering Act (PMLA) in opposition to Shivakumar, Houmanthaya, an worker of Karnataka Bhavan in New Delhi, and others on the premise of a chargesheet filed by the IT division.
Throughout investigation, ED detected unaccounted money of round Rs 200 crore belonging to Shivakumar. The ED claimed that the cash was deposited in additional than 317 financial institution accounts of 20 banks managed by Shivakumar. The ED additionally alleged discovery of benami properties value over Rs 800 crore linked to Shivakumar.
Shivakumar was arrested on this case on September 3, 2019. Nevertheless, he was granted bail by the Delhi Excessive Court docket in October 2019. In May 2022, the ED had filed a cost sheet in opposition to him on this case.
In his plea in opposition to the ED probe, Shivakumar argued that the offense of felony conspiracy can’t be invoked within the absence of the predicate offense and because the offense isn’t a scheduled offense underneath the Earnings Tax Act, proceedings can’t be continued underneath the PML Act. Is.
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