PMLA case against Virbhadra: ED opposes bail of LIC agent

The Enforcement Directorate (ED) on Tuesday opposed the bail application of Life Insurance Corporation (LIC) agent Anand Chauhan in a special court, arrested in a money laundering case also involving the Himachal Pradesh Chief Minister Virbhadra Singh, apprehending that he could tamper with the evidence.

The agency made the submission before Additional Sessions Judge Vinod Kumar, who reserved the order on Chauhan's bail plea for August 20.

During the hearing, the agency argued, "There are ample evidences against Chauhan. If he is released on bail, there are serious apprehensions that he may tamper with evidences. If he is granted relief, he is likely to influence the witnesses who are yet to be examined and those about whom we are yet to know."

"The persons against whom the case was filed are still holding very high posts. He (Chauhan) should not be granted bail as it will hamper the further course of investigation," the agency told the court.

The counsel appearing for the accused, however, submitted, "I (Chauhan) am not the fountain-head for generating the money. Neither the money was mine, nor I was the beneficiary. I was arrested on July 9 while no other accused has been arrested in the case yet. Isn't it a dubious way of the probe agency?"

The accused, who is currently in the judicial custody, had sought relief on the ground that the case against him was documentary in nature and there was no need to keep him in custody.

Chauhan was arrested from Chandigarh on July 9 under the provisions of the Prevention of Money Laundering Act (PMLA) as he was allegedly not cooperating with investigating officer of the case.

ED had earlier claimed in the court that during Chauhan's interrogation, it was revealed that as an LIC agent, he had entered into a modus operandi to launder disproportionate assets by investing in LIC policies.

The agency had submitted that Virbhadra Singh, while serving as a union minister, invested huge amount in purchasing LIC policies in his own name and his family members through Chauhan.

"Further, Virbhadra Singh, while functioning as Union minister during the period from May 28, 2009, to June 26, 2012, acquired assets, disproportionate to his known sources of income to the tune of Rs 6,03,70,782 and further tried to justify the same in the form of agricultural income," the ED said.

"Pratibha Singh, wife of Virbhadra Singh, Chauhan, with whom Virbhadra Singh has signed the alleged MoU for managing his apple orchard and Chunni Lal Chauhan, proprietor of M/s Universal Apple Associates, who purportedly showed purchase of apple of Shrikhand Orchard, have facilitated in justifying the disproportionate assets of Virbhadra Singh and thereby abetted the offence," the ED had alleged.