Hey there Pune folks! Big news coming your way – Pune-based builder Avinash Bhosale has been granted bail in a money laundering case by the Bombay High Court. After being in custody since June 2022, Bhosale has finally been released on a personal bond of ₹1 lakh. His solicitor confirmed the news, stating that he had established a strong case in his favor regarding alleged proceeds of crime and related transactions.
The case, filed by the Enforcement Directorate, revolves around loans and investments totaling ₹3,983 crore from Yes Bank to DHFL, with allegations of kickbacks being paid to the bank’s promoters. DHFL is also accused of transferring funds to other individuals, including Bhosale, who supposedly received proceeds of crime. However, Bhosale’s defense argued that the transactions were legitimate loans with a reasonable interest rate, and all the money had been returned as per agreements made in 2014-15.
One of the key allegations against Bhosale involved the sale of ABIL Dairy LLP to another individual, with the ED pointing out discrepancies in the dates on the MoU. Despite this, the High Court considered the possibility of a typographical error and stated that this issue could be addressed during the trial. It was also noted that the payments made by the other individual were made before the alleged generation of proceeds of crime.
So, it looks like Bhosale has some weighty arguments in his favor, and the High Court seems to agree. Stay tuned for more updates on this developing story!
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