Mumbai: Special PMLA Court Rejects Discharge Plea Of Consultancy Firm In Money Laundering Case, Says Knowledge Irrelevant For Prosecution

Mumbai: So, there’s been some drama in the city’s special PMLA court. They just turned down a request from a consultancy firm to be let off the hook in a money laundering case. The court made it clear that just because someone claims they didn’t know what was going on, it doesn’t mean they can’t be prosecuted.

The case revolves around Aditya Vijay Kashyap, who runs Positive Global Service & Consultancy Pvt. Ltd. He and his firm are being looked at for their role in a scheme that involved a fake finance company. This company, Fortis International Company Finance (India) Ltd, had no ties to the real Fortis International Inc. based in London.

The Enforcement Directorate (ED) claims that a group of people, including Khalique Ahmed and others, set up this fake company to trick people into thinking they were part of a legitimate finance operation. They allegedly misled the Bhatia Group of Companies into believing they could secure a massive loan of $550 million.

In the process, the Bhatia Group ended up paying a whopping Rs 70.45 crores in various fees and even handed over Rs 5 crores in cash to Kashyap. Another director, Kunal Kashyap, also received a hefty sum as a reference fee. Talk about a scam!

When they asked to be discharged from the case, the accused argued they weren’t directly involved in the original crime. They claimed ignorance about the money being linked to any illegal activities. But the court wasn’t having it. They stated that being involved in any way with the proceeds of crime is enough to be guilty of money laundering.

The court emphasized that whether or not they had knowledge of the crime is something that needs to be sorted out in a trial. They found enough evidence to keep the case moving forward. So, it looks like this story isn’t over yet!