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[Delhi Excise Policy case]
Delhi's Rouse Avenue Court to hear today, former Delhi Deputy Chief minister Manish Sisodia's bail plea in the money laundering case.
Hearing to start at 2pm.
#ManishSisodia #excisepolicycase #RouseAvenueCourt
Delhi's Rouse Avenue Court to hear today, former Delhi Deputy Chief minister Manish Sisodia's bail plea in the money laundering case.
Hearing to start at 2pm.
#ManishSisodia #excisepolicycase #RouseAvenueCourt
Special CBI Judge MK Nagpal will hear arguments in Sisodia's bail plea.
Court is also likely to extend his Judicial custody in the case as the same expires today.
Notably, Sisodia has been behind bars since February 26.
Court is also likely to extend his Judicial custody in the case as the same expires today.
Notably, Sisodia has been behind bars since February 26.
Sisodia produced in court.
Court to assemble shortly.
Court assembles.
Advocate Vivek Jain for Sisodia: We have prepared a note and compiled judgements as well. We are submitting that.
Jain: First thing we have dealt with is what is money laundering. No offence of PmLA is made out against us.
Section 45 PMLA would come against me only if an offence under Section 3 is made out: Jain.
Counsel now reads Section 3 PMLA.
Counsel now reads Section 3 PMLA.
Jain: None of the ingredients, even prima facie is made out against me. There may be allegations with regards to changes in the excise policy. My lords here would have to see if any money is there.
Jain: The second foundation is that under Sec 45, there is no absolute restraint on the grant of bail.
My lords have to see the broad probabilities that I am not guilty of offence: Jain
Jain now cites Prakash Industries judgement of the Delhi High Court.
Your lordship today is only looking at whether i have concealed, acquired, or projected proceeds of crime as untainted: Jain
In their 106 page reply I do not see any evidence backed by any material that I have done any of these things. There is absolutely no evidence qua me: Jain.
Jain refers to a chart prepared by ED.
Money trail of kickbacks: Admittedly, not a single penny has come to my account or any of my family members' accounts. There is nothing connecting me to the proceeds of crime: Jain.
There is nothing alleged against me as far as money laundering offence is concerned: Jain
There is nothing alleged against me as far as money laundering offence is concerned: Jain
Sec 50 statements are there. They have to be tested at the stage of trial. These are officers who are making self serving statements against me. The controlling authority of these officers (LG) is the complainant in the case: Jain
Can you on the basis of Sec 50 statements deny me the bail? These statements are untested as of now: Jain.
The vires of Sec 50 has been challenged in the SC and notices have been issued on that: Jain.
Jain: There is a review pending of Vijay Madanlal as well.
The ED's reply is only the predicate offence nothing else: Jain.
Neither is there any allegations nor is there any material to show that I received the money, hid it or spent it: Jain
As far as the policy is concerned, these are all allegations made in the predicate offence. Now to again repeat these for the purpose of rejecting my bail can't be argued here. This is not related to Sec 3. They have to restrict themselves to proceeds of crime only: Jain
Jain: Even on policy, this policy was made at different levels. A committee was formed, certain recommendations were given. Cabinet decided to constitute a GoM. This GoM has a dity to recommend the changes. It is then the dity of the excise department to draft the policy. GoM… twitter.com/i/web/status/1…
Jain: Even though this is not relevant to the PMLA case but I am explaining this so my lords know how this is done.
Jain: The policy went to several departments. Everyone accepted it. It also went to the LG. Your lordships may see how many levels this has gone and got approved.
After implementation of this policy, the revenue that has come to the government is the highest in the last ten years. This is magic and these are facts. There is a difference of at least Rs 500 crores in the revenue garnered through this policy and the policies working earlier:… twitter.com/i/web/status/1…
The revenues are historical, there is no loss to the exchequer. It is very easy to complicate things but what we are stating are only the facts: Jain.
#ManishSisodia #excisepolicycase
#ManishSisodia #excisepolicycase
Jain: There is no material to show how Vijay Nair is my representative for committing money laundering offence as defined in Sec 3 PMLA.
#ManishSisodia #excisepolicycase
#ManishSisodia #excisepolicycase
No one says ki maine kisi ko bola hai ye rule wagerah chhod do aur inko license de do: Jain.
#ManishSisodia #excisepolicycase
#ManishSisodia #excisepolicycase
Four phones are already in ED custody. Where is the material to show that in some other phones some incriminating material was there. There has to be some basis, some logic: Jain.
Jain: They say I have tampered with cabinet file. there is no evidence no material that such a note had gone to the cabinet. These are allegations of some officers made a year or more later. Again there is material and no basis.
Jain: They say the note went to the cabinet. But none of these officers were there. Did they have superpowers to see that it wentvto the cabinet and that the cabinet was angry?
Advocate Zoheb Hossain now begins his submissions for the ED.
Hossain: We are gathering some fresh evidence. There is some crucial evidence that is still being unearthed. Therefore, I am requesting if I can make my submissions of either the 10 or 11 April.
Hossain: These are related to hawala operators.
Zoheb submits that he can argue for some time today.
He begins his submissions.
He begins his submissions.
Hossain: Generation of proceeds of crime is one of the offences subsumed in the offence of money laundering.
Hossain: This is not investigation into the scheduled offence but is an investigation into the process of activity involved in generation and use of proceeds of crime.
If recovery was touchstone for Sec 3 offence then most of the sophisticated money launderers would never be prosecuted because money is always held at an arm's length: Zoheb.
Zoheb: Multiple people have confirmed that the profit margin was increased to 12% only to ensure kickbacks are received.
Judge: Ye reason to dia hua hai.
Zoheb: They are nothing but an afterthought.
Zoheb: They are nothing but an afterthought.
Court lists the case for further arguments on April 12.
Court also extends Sisodia's judicial custody till April 17.
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