Real estate developer Vijay Agrawal, who was accused in a money laundering case involving alleged international hawala kingpin Naresh Jain, has been granted bail by the Delhi High Court. The court held that an individual’s liberty cannot proceed only on the basis of assumptions and presumptions. Agrawal claimed that he did not realise he was dealing with tainted money which, the court observed, cannot be dismissed mechanically. While the court acknowledged the rights of society as a whole and the prosecuting agency, it was also mindful of protecting an individual’s right and liberty. Money laundering is a serious offence that jeopardises the financial stability, integrity, and sovereignty of the nation.
Vijay Agrawal is an Indore-based real estate developer who was accused in a money laundering case involving alleged international hawala kingpin Naresh Jain. He borrowed money from the co-accused’s shell firms and bought shares of a company at a discount from its actual value to promote the conspiracy, according to the Enforcement Directorate.
Naresh Jain is an alleged international hawala kingpin involved in a money laundering case. Moveable and immovable properties worth Rs 65.75 crore in possession of Bimal Kumar Jain, Sunita Jain, Vijay Agrawal, and the companies owned or controlled by Naresh Jain were attached under the Prevention of Money Laundering Act.
