The Rouse Avenue court in Delhi granted the Enforcement Directorate (ED) seven days of custody of Arvind Dham in a money laundering case. Dham, who was arrested yesterday, was produced before the court where ED sought 14 days of custody for interrogation.
Special CBI judge Bhupinder Singh granted seven days of custody to ED, with Dham to appear before the court again on July 17. ED’s application highlighted that the case involves proceeds of crime amounting to thousands of crores, with documents related to 100 benami properties identified during the investigation.
ED’s counsel stated that Dham, a promoter and director of the Amtek group, and his family members are directors involved in siphoning funds through shell companies and investing in properties. They accused Dham of money laundering under the Prevention of Money Laundering Act, 2002 (PMLA), citing non-cooperation and evasion in providing crucial information.
Also Read: BMW Hit And Run Case: Mihir Changed His Look, Called His Girlfriend 40 Times
Senior advocate Vikram Chaudhari, representing Dham, opposed ED’s plea for custody, urging the court to reject it and release the accused. The case stems from allegations of a Rs 20,000 crore bank fraud involving the Amtek Group, which prompted earlier CBI investigations.
On June 20, ED conducted raids in Delhi, NCR, and Maharashtra, uncovering significant financial irregularities. The investigation, initiated based on a CBI FIR against ACIL Limited, a group entity, revealed funds diversion into real estate, foreign investments, and new ventures, along with misrepresented financial data to secure loans and avoid non-performing asset (NPA) classification.
(Except for the headline, this story has not been edited by Newsx staff and is published from a syndicated feed.)
