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TMI Blog2023 (3) TMI 1016X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Applicant from the group of Companies owned by Suryakant Tiwari and his associates. What is also reflected from the materials available on record is the fact that the purchase made by Suryakant Tiwari of the two Coal Washeries at the first instance was for an amount of roughly Rs.90 Crores, of which cheque payments were made only for an amount of around Rs.34-35 Crores and the rest was cash dealing that was made. These two Coal Washeries, worth more than Rs.90 Crores, have subsequently been sold by the main accused Suryakant Tiwari to the Applicant for just around the same value of cheque transaction made by Suryakant Tiwari at the time of purchase of two Coal Washeries at the first instance. This by itself shows that the Applican ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Applicant. 2. The Applicant stands arrested by the Respondent - Enforcement Directorate, Raipur on 13.10.2022 in connection with Investigation No. ECIR/RPZO/09/2022. The offence registered against the Applicant is that of under Sections 3 4 of the Prevention of Money Laundering Act, 2002. 3. The offence stands registered on 12.7.2022 vide Crime No.129/2022 at Kadugodi Police Station, Whitefield, Bengaluru. Initially, the FIR was lodged against one Suryakant Tiwari for the offence punishable under Sections 186, 204, 353, 120-B of IPC. Subsequently, Section 384 of IPC also stood added by the Police. 4. The primary allegation against the main accused Suryakant Tiwari and his associates was that of illegally collecting levy on coal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Applicant's involvement in the commission of the alleged offence committed by Suryakant Tiwari and his associates is concerned. That the Enforcement Directorate has failed in disclosing the allegations levelled against the Applicant or, for that matter, information and the documents on the basis of which the alleged involvement of the Applicant in the commission of the alleged offence is reflected. 7. Further contention of learned Senior Counsel for Applicant is that whatever relation that the Applicant has with the main accused Suryakant Tiwari and his Firms is pure business relation and there is nothing other than the business relation that the Applicant has with them. Even the allegation of purchase of two Coal Washeries by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cant, he deserves to be released on bail. The Applicant deserves to be released on bail also on account of his deteriorating health conditions after he was taken into custody. 10. Learned Counsel for Respondent - Enforcement Directorate, on the other hand, opposing the Bail Application, contended that the Applicant, being the Managing Director of Indermani Group of Companies, was found to be actively involved in the conspiracy with the main accused Suryakant Tiwari by assisting him in consuming ill gotten wealth/asset. According to learned Counsel for Enforcement Directorate, in order to shield illegally accumulated wealth of the main accused Suryakant Tiwari, by way of conspiracy, the Applicant has entered into certain transactions and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this juncture. 13. Having heard the contentions put forth on either side and on perusal of records, what is primarily reflected from the contentions put forth by learned Counsels on either side and what is an admitted position is that the Income Tax Department and the Enforcement Directorate found certain huge irregularities and illegalities in the transactions that were being made by the main accused Suryakant Tiwari and the money that he was collecting or generating by illegal means. In the course of the same, an FIR was lodged on 12.7.2022 against the main accused Suryakant Tiwari. The initial offence registered was that of under Sections 186, 204, 353, 120-B of IPC on which, later on, Section 384 of IPC was added. The main allegation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icant for just around the same value of cheque transaction made by Suryakant Tiwari at the time of purchase of two Coal Washeries at the first instance. This by itself shows that the Applicant has got two Coal Washeries at a very cheap price. 16. In the course of investigation, it also revealed that it was the Applicant who has initially assisted the main accused Suryakant Tiwari in the negotiation of purchase of two Coal Washeries for an amount of roughly Rs.96 Crores. Subsequently, when Suryakant Tiwari came under the scanner of the Income Tax Department as also the Enforcement Directorate, it revealed that there were certain serious paper works done by the Applicant for purchasing the two Coal Washeries earlier purchased by the Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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