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TMI Blog2019 (9) TMI 956X X X X Extracts X X X X X X X X Extracts X X X X ..... then one can very well imagine what he can do once out on bail. The Supreme Court in Rohit Tandon Vs. Directorate of Enforcement [ 2017 (11) TMI 779 - SUPREME COURT] while dealing with the bail plea in a money laundering case, has again reiterated that white collar crimes/economic offenders have deep rooted conspiracies involving huge amount of public funds and this should be viewed seriously and such offences ought to be considered as grave offences. Pertinently, the bail plea in the case of Rohit Tandon (Supra) was repelled by the Supreme Court while observing that duty of the Court at the bail stage is not to weigh the evidence meticulously but to arrive at a finding on the broad probabilities of the case - this Court is of the considered opinion that the petitioner is not entitled to the grant of bail - BAIL APPLN. 1180/2019 & Crl. M. (B) 990/2019 - - - Dated:- 19-9-2019 - MR. RAJNISH BHATNAGAR J. Petitioner Through: Mr. Kapil Sibal, Sr. Adv. with Ms. Gauri Rishi, Ms. Meenakshi Chaterjee, Mr. Jayant Mohan, Ms. Srishti Juneja and Mr. Nikhil Rohatgi, Advs. Respondent Through: Mr. Aman Lekhi, ASG, Mr. Amit Mahajan, CGSC with Mr. Ritwiz Rishabh, Ms ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m, took undue advantage and obtained favourable air traffic rights for Emirates, Air Arabia and Qatar Airlines. Petitioner himself claimed in a PPT presentation titled ''DTA Your India Advisor (RUD-20), the outcomes of his endeavours he achieved for his clients which include Airbus, Emirates, Fraport, Air Arabia, Air Asia, Onair, Dnata etc. The said Power Point presentation was recovered from one of the premises associated with the petitioner. In lieu of the favours three airlines namely Emirates, Air Arabia and Qatar Airways made huge payment to petitioner which were credited in the account of M/s Asia Field Ltd. and M/s Gilt Assets Management Ltd. which are the companies controlled by the petitioner and his son Aditya Talwar. The airlines wise payments made to the entities controlled and beneficially owned by Deepak Talwar (petitioner) is detailed as follows : S. No. Concerned Airlines Date of Payment Amount received in (USD) Date of MOU between India and respective country for the air traffic rights Recipient Ban ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... k Alternative Investment Pvt. Ltd., IDFS Trading Pvt. Ltd. All these companies subsequently invested, in Wave Hospitality Pvt. Ltd. thus integrated the proceeds of crime, which was then utilized in acquiring hotel Holiday Inn, Aerocity, Delhi. The proceeds of crime were also laundered through M/s Gilt Assets Management Ltd. 8. I have heard the Ld. Sr. counsel for the petitioner and Ld. ASG for the respondent and given my due consideration to the matter. 9. The Ld. Sr. Counsel for the petitioner has argued on the lines of his bail application. He further urged that the petitioner is an international consultant and is engaged in felicitating foreign direct investment in India through various MNCs and business houses. It has been primarily argued by the Ld. Sr. counsel for the petitioner that the charge sheet in respect of the predicate offences has not been filed so far, therefore, the proceedings in the instant case rests on the presumption of commission of scheduled offence and the generation of proceeds of crime therefrom. It is further urged by the Ld. Sr. Counsel for the petitioner that there are no chances of petitioner absconding and fleeing from justice as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner of M/s Asia Fields Limited with his family and associates and this company has received proceeds of crime amounting to ₹ 127 crores approximately from foreign based airlines and these proceeds of crime have been placed, layered and integrated through various Indian and offshore entities and Hotel Holiday Inn, Aerocity Delhi has been acquired. 12. It is further stated in the reply that the investigation is ongoing in relation to the proceeds of crime laundered through M/s Gilt Asset Management Ltd. where the petitioner received ₹ 144 Crores approximately which amount is the proceeds of crime. It is further stated that the petitioner is an influential man and he took undue advantage of his proximity with various Government officials, public servants and politicians to obtain favourable air traffic rights for foreign airlines. It is stated that the petitioner has deliberately evaded the process of law in India and, has not co-operated in the investigation, his son has also evaded the process of law and took citizenship of Antigua and Barbuda in October, 2017 to escape the law of land. It is further stated that the petitioner is involved in the commission of gr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in a sealed cover to the Court for perusal while seeking to maintain confidentiality in respect of these diaries. 15. It is further submitted by him that the contention of the counsel for the petitioner that the investigation qua the petitioner is complete is misplaced as the petitioner is involved in a commission of grave offence and he is a key link to unearth the entire modus operandi adopted by him and his release on bail would be detrimental to the further investigation of the case which is at a crucial stage and if enlarged on bail, the petitioner would dispose of the proceeds of crime accumulated in the foreign bank accounts and offshore entities linked to the petitioner. It is further urged by the Ld. ASG that even though the passport of the petitioner is with the respondent still there are good chances of the petitioner fleeing from justice and not submitting himself to the Courts of Law in India which is evident from his past conduct and record of the investigation and also the fact that his son is already a citizen of Antigua and Barbuda. 16. I have perused the judgments relied upon by both the sides. There is no dispute with regard to the propositions ..... X X X X Extracts X X X X X X X X Extracts X X X X
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