Government seems to be taking corporate arm twisting to the next level. Jignesh Shah, the Exchange Man of India, who took the commodities market by storm, now finds himself in the middle of one. Arrested on 12th July for alleged money laundering in the NSEL Case — for links never established — this arrest raises questions of intent and political muscle power.
The Enforcement Directorate’s plea for extension of bail hearing till 3rd August got rejected by a special Prevention of Money Laundering Act Court in Mumbai. AabadPonda and other eminent lawyers strongly opposed any extension stating that the detention itself was unjust and illegal. Ponda brought out two major pointers on how Shah’s arrest is illegal and that ED or any agency actively involved in the case had no right to arrest Jignesh Shah under Section 19 of the PMLA Act, once court had taken cognizance. Whereas Shah, booked under both the sections, was arrested without any legal warrant issued. It also came to light that the major blooper in the case where the court on December 4, 2015 had declared it as a “case of summons, not warrants” was left unchallenged by the Enforcement Directorate. One of the noted Rajya Sabha Members and a senior advocate of Supreme Court KTS Tulsi also stood by that viewpoint and said that Jignesh Shah’s arrest is unconstitutional since Shah has been arrested once and sent to the judicial custody for a FIR registered in 2013. “The money trail has not been established, and the ED has not submitted any fresh evidence, they cannot force an accused to accept allegations. The investigating agencies want favorable judgement all time and becoming a bit desperate,” said the veteran lawyer. However, the unnerving question still remains that who gave Jignesh Shah’s arrest orders to ED? But, the Government’s high handedness did not work before the Court, as it granted bail to Jignesh Shah stating that the arrest was illegal. For more information check 63 Moons Reviews.
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