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Synopsis

The Delhi High Court on Thursday granted bail to Raghav Magunta, son of YSR Congress Party MP, in connection with a money laundering case related to the alleged excise policy scam.

Justice Dinesh Kumar Sharma recorded that the relief was granted as the Enforcement Directorate did not oppose his bail plea.

SPP Zoheb Hossain, on behalf of ED, submitted that since the accused was cooperating in the investigation and assisting in tracing the Proceeds of Crime, which would have been otherwise difficult, he might be granted bail.

Senior Advocate Siddharth Aggarwal appearing for Magunta submitted that since the bail application was not being opposed by Public Prosecutor, the twin conditions as prescribed by Section 45 (1) (ii) of PMLA would not be applicable.

"In view of the statement made and the facts narrated herein above, the interim bail granted vide order dated 18.07.2023 for four weeks on medical grounds is made absolute," said the court in an order dated August 10.

The single-judge bench granted Magunta regular bail on furnishing a personal bond of Rs. 2 lakh with two sureties of like amount.

"Let the petitioner be released on regular bail furnishing a personal bond of Rs. 2,00,000 with two sureties of like amount to the satisfaction of the learned trial court ," the court said.

“It is a matter of the record that the affidavit filed by the E.D. is only on the peculiar facts and circumstances and therefore this order may not be taken as a precedent for benefit of other accused persons and may also not be taken as a precedent in any other case”, the court clarified.

It is to be noted that on July 18, the high court had granted interim bail to Magunta on account of his ill health.

According to the CBI and the ED, which are probing the cases against the Aam Aadmi Party (AAP) leaders and former Delhi deputy Chief Minister Manish Sisodia, Magunta and others, irregularities were allegedly committed while modifying the Delhi excise policy and undue favours were extended to licence holders.

The Delhi government had implemented the policy on November 17, 2021 but scrapped it at the end of September 2022 amid allegations of corruption.

Case Title: Ragahav Magunta v. Directorate of Enforcement