NARESH GOYAL Vs. DIRECTORATE OF ENFORCEMENT

JUDGEMENT

(1.) The applicant, who is arraigned in Special Case No.1728 of 2023 arising out of ECIR/MBZO-II/29/2023 registered by the Directorate of Enforcement - Respondent No.1 for having committed offences punishable under Sec. 4 of the Prevention of Money Laundering Act, 2002 ('PMLA') on the basis of a predicate offence bearing FIR No.RC0742023E0004 for the offences punishable under Ss. 120B, 420, 409 of IPC and Ss. 13(2) read with 13(1)(c) and 13(2) read with 13(1)(a) of the Prevention of Corruption Act, 1988 at CBI, BS&FB Delhi, has preferred this application for bail on medical ground.

(2.) The application proceeds on the premise that the applicant and his wife, Anita, suffer from terminal cancer. The applicant is both sick and infirm, and, therefore, covered by the first proviso to Sec. 45(1) of the PMLA. As the applicant seeks to be enlarged on bail by invoking the first proviso to Sec. 45(1) of PMLA on medical grounds, it may not be necessary to note the background facts, elaborately.

(3.) It may be suffice to note that the allegations in FIR No.RC0742023E0004 are that the applicant in connivance with the other accused persons deceived Banks by siphoning off the funds with the help of the subsidiaries of M/s. Jet Airways (India) Ltd., by showing bogus expenses and personal expenses, and, thereby caused wrongful loss to the tune of Rs.538.62 Crores to Canara Bank and Rs.190.04 Crores to the erstwhile Syndicate Bank.