Bombay High Court Grants Bail to Pune Builder in Money Laundering Case

The Bombay High Court granted bail to Avinash Bhosale, a Pune-based builder, in a money-laundering case. Bhosale was arrested by the Enforcement Directorate in June 2022 but has contended that the allegations are misconceived. Justice Manish Pitale noted there are reasonable grounds to believe he may not be found guilty at trial.

The Bombay High Court granted bail to Avinash Bhosale, a Pune-based builder, in a money-laundering case, underscoring the possibility that he may not be found guilty at the trial's end.

Bhosale, the chairman and founder of ABIL Group, was arrested by the Enforcement Directorate (ED) in June 2022 after previously being arrested by the CBI in a corruption case. He secured bail in the latter from the high court in May.

Justice Manish Pitale issued bail on a personal bond of Rs one lakh, highlighting reasonable grounds suggesting Bhosale's potential innocence. The ED alleged Bhosale received kickbacks from Yes Bank founder Rana Kapoor and Radius Group's Sanjay Chhabria, but the court noted these transactions likely stemmed from legitimate investments made in 2014-2015.

(With inputs from agencies.)