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In its plea ED stated, "The voluminous documents that were collected by the Investigating Officer clearly disclose that there are shady transactions under which huge amounts were deposited, transferred and withdrawn."
The Supreme Court has dismissed the Enforcement Directorate's (ED) plea seeking cancellation of bail to Bineesh Kodiyeri, son of former Kerala State Secretary CPI(M) Kodiyeri Balakrishnan in a Money Laundering case.
A bench of Justices BR Gavai and Sandeep Mehta has refused the plea noting that there were no allegation of misuse of his bail by the accused.
In April last ear, ED had filed the instant plea through Advocate MK Maroria stating that economic offences have deep rooted conspiracies and involve huge loss of public funds and as such they need to be viewed seriously and considered as grave offence affecting the economy of the country as a whole, thereby posing serious threat to the financial health.
The investigation under Prevention of Money Laundering Act against Kodiyeri has been initiated after a case was registered for offences under section 22 & 27A of NDPS Act in Drug recoveries at various places and later the NCB revealed a deep rooted organised drug trafficking and network in Bengaluru City involving highly influential Indian & Foreign Nationals and also about involvement of high-profile individuals as part of the organised crime.
Whereas, the case the was registered against Kodiyeri after ED came to know that name of Kodiyeri has been mentioned in various FIRs wherein NCB have generated huge proceeds of crime and that the said proceed of crime are being held by the accused persons projecting the same as untainted money and property.
The Karnataka High Court on October, 28, 2021 had allowed bail to Kodiyeri after the Enforcement Directorate arrested Kodiyeri in relation to a Drug case which lead to his father Balakrishnan leaving his post of State Secretary.
Cause Title: Directorate of Enforcement Vs. Bineesh Kodiyeri
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