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Yes Bank scam: Kapoor moves HC, seeks joint trial in the CBI-ED cases

Jailed Ltd (YBL) promoter, Rana Kapoor Friday moved the Bombay High Court seeking a joint trial of the CBI and PMLA cases in the Yes Bank-DHFL scam.

While the CBI is probing a case of corruption and misuse of office, the Enforcement Directorate (ED) is investigating a money laundering case in an alleged case of fraud caused to YBL by Kapoor, DHFL promoters, Kapil and Dheeraj Wadhawan and others.

Advocate Vijay Aggarwal appearing for Kapoor argued that CBI case (being scheduled offence) and PMLA case in Yes Bank-DHFL Case was liable to be tried jointly by a single court in terms of Section 44 r/w Section 43 PMLA, 2002. Aggarwal also contested that, “…the intention of the legislature as per the mandate of Section 44 of PMLA, contemplating trial of both the scheduled offence and the offence under PMLA by the same court is that accused should not face multiple prosecutions and the dual agony of trial as the case registered by the ED is nothing but an off-shoot of the main scheduled offence case and the substratum of the both the cases remain the same”.

Aggarwal further contended that the Bombay High Court in the PNB case involving Nirav Modi and Mehul Choksi had also in the given a similar direction to the Special Court that the two cases are to be tried jointly by a single court as designated under PMLA, 2002.

Appearing for the agency advocate Hiten Venegaonkar submitted that they will move an appropriate application in terms of Section 44, PMLA Act for transfer of the CBI case to the designated court under PMLA.

In a separate application filed before the special court Kapoor has requested that the court decide on the pending applications before considering the issue of charge.

Advocate Aggarwal presented his case pleading the court to direct the investigation agency to declare that no further investigation is pending and if not then to defer the arguments on point of charge in terms of law. ”..if the accused is directed to argue on the point of charge pending further investigation, then the defense of the accused will be disclosed and the probe agency shall be in a position to fill the loop-holes in its chargesheet,” Aggrawal contested.

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