Delhi HC upholds arrest of former Bhushan Steel MD, dismisses bail plea in money laundering case ...Middle East

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Delhi HC upholds arrest of former Bhushan Steel MD, dismisses bail plea in money laundering case
New Delhi: The Delhi High Court has upheld the arrest of Bhushan Steel Ltd’s former Managing Director Neeraj Singal in connection with a money laundering case related to a bank fraud probe by the Enforcement Directorate. A bench of Justice Vikas Mahajan dismissed Singal’s plea challenging his arrest on June 9, 2023, stating that at that time, oral communication of the grounds of arrest was considered proper compliance with Section 19(1) of the Prevention of Money Laundering Act, 2002. The judgement took into account the Supreme Court’s ruling in Pankaj Bansal v. Union of India, delivered on October 3, 2023, which mandated providing written grounds for arrest, but with prospective effect fro

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