Delhi HC grants bails to Yogesh Mittal in money-laundering case

The Delhi High Court on Tuesday granted bail to businessman Yogesh Mittal, who was in custody of Enforcement Directorate (ED), since June 2017 in connection with a post-demonetisation money laundering case.

Earlier, the Delhi HC had ordered the release of Mittal from the case.

He allegedly converted demonetised notes into valid currency and was arrested by the ED on June 6 last year and is a close associate of advocate Rohit Tandon.

The ED had, earlier in February 2017, issued a provisional order attaching movable and immovable properties worth Rs 6,84,26,500 of Tandon, a Kolkata-based businessman Paras Mal Lodha and others in money laundering case post demonetisation.

The investigation conducted so far has revealed that after the post demonetisation period, Lodha along with others illegally exchanged demonetised currency of Tandon and others into a monetised form on a commission basis with the help of Suman, Amranjay Kumar, Atul Kumar Aggarwal, Manoj Kumar Aggarwal and others, including Hawala operators.

Lodha was held in Mumbai by the ED after they recovered a huge cache of new currency notes of Rs 500 and Rs 2,000 from a Delhi law firm, which belonged to Tandon and a Chennai based-businessman Sekhar Reddy.

Tandon was arrested last year in December after the Crime Branch and the Delhi Police carried out raids at the office of his firm, T&T Law and seized nearly Rs. 13.5 crore, out of which Rs. 2.6 crore was in new banknotes after demonetisation.