You are here: Home » Current Affairs » News » National
Business Standard

Court refuses to cancel NBWs against business tycoon Shravan Gupta

The court dismissed Gupta's application seeking cancellation of the NBWs, saying it was 'without any merit'

Topics
AgustaWestland scam | Delhi court | Money laundering

Press Trust of India  |  New Delhi 

gavel, IBC, Insolvency, bankruptcy, court, judgement, laws
Representational image.

A has refused to cancel the non-bailable warrants (NBWs) against Shravan Gupta, a former managing director of realty major Emmar MGF, in connection with AgustaWestland VVIP chopper case.

The court dismissed Gupta's application seeking cancellation of the NBWs, saying it was "without any merit".

The warrant was issued against Gupta on August 29 as he did not join the investigation despite receipt of summons and was trying to evade the probe on one ground or the other.

Special Judge Arvind Kumar in his December 5 order, cancelling his application, had said it was "clear that applicant has tried to evade the investigation on one pretext or the other and did not join the investigation despite receipt of summons".

"Even during present proceedings, the applicant did not express intention to appear before ED (the Enforce Directorate) to join investigation. He also did not appear before this court when the application was taken up for hearing. It only shows that applicant is not willing to cooperate in the investigation," the judge had said.

According to the ED, Euro 12.4 million were transferred to the accounts of Interstellar Technologies Limited, Mauritius, which was one of the main fronts which has been used for laundering the proceeds of crime in the present case.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, December 15 2020. 14:10 IST
RECOMMENDED FOR YOU
.