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April 17, 2024
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Calcutta High Court Gives Clean Chit To Rashmi Metaliks In Money Laundering Case

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Calcutta High Court on Wednesday gives clean chit to Rashmi Metaliks in money laundering case and turn down Enforcement Directorate’s plea of freezing its assets.

The Enforcement Directorate (ED) in July raided multiple premises of the West Bengal-based Rashmi group of companies and freeze its bank deposits with about ₹ 95 crore as part of a money laundering investigations.

The court observed that the ED took steps for search and seizure and freezing of the petitioner’s bank accounts after 7 years from the date on which all pending proceedings were stayed by the Supreme Court.
The court further stated that the impugned orders cannot be sustained either in law or in fact and stays the ED’s freezing orders dated July 13 and directed the financial investigation agency “not to act in terms of the said orders or take steps in furtherance thereto”.

“The prayer for stay made on behalf of the Enforcement Directorate is considered and refused given the findings and observations made in the Judgment,” reads the court order.

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