The Delhi High Court on Wednesday directed the Enforcement Directorate (ED) not to take any coercive steps against Bhushan Steel ex-promoter Neeraj Singal pursuant to summons issued to him in a money laundering case registered in connection with alleged siphoning of funds worth over Rs 2,000 crore.
A bench of Chief Justice D N Patel and Justice Rekha Palli issued notice to the Centre and ED, seeking their stand on Singal's plea for a declaration that the Prevention of Money Laundering Act (PMLA) cannot be made applicable retrospectively, and
After hearing both sides, the court said, "Notice. Returnable on February 25. Meanwhile, no coercive steps be taken against the petitioner by the respondents keeping in mind the amendment in PMLA, especially in the schedule of offences with regard to section 447 of Companies Act...."
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