Supreme Court Cancels Money Laundering Arrests of M3M Directors, Cautions ED 'Expected To Be Fair, Not Vindictive'

Supreme Court: The arrest of Basant and Pankaj Bansal, directors of the Gurugram-based real estate business M3M, in a money laundering case was overturned by the Supreme Court. The Bansals had filed a complaint with the court after the Punjab and Haryana High Court dismissed their appeal about their arrest.

Supreme Court's Scathing Critique

In a stinging rebuke for the Enforcement Directorate, the Supreme Court yesterday ordered the cancellation of two arrests in a money-laundering case, stating that the investigation agency could not be vengeful and had to behave with the utmost impartiality. "Every action of the ED is expected to be transparent, above board and conforming to pristine standards of fair play in action," the Supreme Court said in its judgment which is uploaded today.

Investigation Agency Criticized for Failing in Its Duties

The investigation agency "failed to discharge its functions and exercise its powers" in this case, the court found the circumstances to show. Judges Said that the Enforcement Directorate's claim that the accused's refusal to answer questions could not justify an arrest was insufficient. "ED is not expected to be vindictive in its conduct and must be seen to be acting with utmost probity and with the highest degree of dispassion and fairness," said the judges. The Supreme Court added: "Mere non-cooperation in response to the summons would not be enough to arrest anyone." They claimed that the Enforcement Directorate had to uncover particular grounds to suspect the accused of violating the Prevention of Money Laundering Act.

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