Business Standard

Gujarat HC grants bail to suspended IAS officer in money laundering case

IANS  |  Gandhinagar 

Suspended was granted by the High Court on Thursday in a case being investigated by the (ED), his said.

Rejecting the central government's request for a stay on the till it approaches the Supreme Court, Justice ordered for Sharma's release on bail, H.B. Champavat said.

Sharma was arrested on July 31, 2016, under the Prevention of Act (PMLA) after the vacated an interim stay on his arrest.

A special had denied to Sharma on January 4, after which he approached the High Court.

Sharma got bail as the had read down Section 45 of the PMLA for laying down stringent bail conditions.

Based on the cases lodged by CID (Crime) and of the state government, the ED had registered a case against Sharma.

The cases relate to an alleged sanction of land at cheaper rate to and its group companies and Welspun Style Rohran in district as part of the suspected quid pro quo.

According to the probe agency, Sharma had allegedly sanctioned the land to Welspun in 2004 when he was the of and This allegedly caused a loss of Rs 1.2 crore to the state exchequer.

The ED alleged that the received Rs 22 lakh in his wife Shyamal P. Sharma's name in lieu of clearing the land sale.

The ED's charge sheet names five others who allegedly helped in transferring this money into Sharma's wife's account through hawala channels.

In his plea in the earlier, Sharma had claimed he was being victimised by the then Narendra Modi in Gujarat and had sought a CBI probe. The plea was rejected by the apex court.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 08 2018. 21:06 IST