Court Grants Anticipatory Bail to Jeweller's Director in Money Laundering Case

The Rouse Avenue court has granted anticipatory bail to Pradeep Goel, director of Shri Raj Mahal Jewellers, in a money laundering case. The court ruled that given the elapsed time since the alleged offense and investigations, no useful purpose would be served by Goel's arrest or custody.

In a significant development, the Rouse Avenue court has awarded anticipatory bail to Pradeep Goel, the director of Shri Raj Mahal Jewellers, amidst allegations of money laundering and bank fraud. The court, led by Principal District and Sessions Judge Anju Bajaj Chandna, provided this relief considering that any recovery associated with Goel is deemed unnecessary at this stage.

While granting the bail, the court required Goel to furnish a personal and surety bond of Rs two lakh. The decision highlighted the considerable time lapse since the alleged fraud took place, emphasizing that over a decade had passed since the initial offense, and substantial actions like search and seizure had long been executed. The court noted the absence of any urgent need for Goel's custodial interrogation.

The complaint against M/s Shree Raj Mahal Jewellers suggested fraudulent activities dating back to when it transitioned from a partnership firm to a private company. Despite multiple investigations by the CBI and the Enforcement Directorate, no substantial evidence necessitating Goel's arrest has been presented. Lawyers representing Goel argued that the foundational cheating claims are untenable due to non-compliance with natural justice principles.

(With inputs from agencies.)