Court Clears Bullion Trader in 84 Crore Post-Demonetization Gold Scam
A special PMLA court discharged bullion trader Chandrakant Patel and others in a gold purchase scam post-demonetisation, citing absence of a predicate offence. This absolves Patel and co-accused of money laundering charges, despite ED's continued legal challenges against CBI's closure report.
- Country:
- India
A special court for the Prevention of Money Laundering Act (PMLA) has absolved a city-based bullion trader, Chandrakant Patel, along with five others, in a scandal involving over Rs 84 crore related to gold purchases following demonetisation.
Special Judge Ajay Daga presided over the hearings, acknowledging that the absence of a predicate offence led to the discharge of Patel and co-accused. This stands despite ongoing legal challenges from the Enforcement Directorate (ED) against the Central Bureau of Investigation's (CBI) closure report.
The ED alleged trasnactions totaling Rs 84.5 crore were routed through entities linked to Pushpak Bullions after demonetisation. Despite these claims, the court upheld the Supreme Court's directive that negates money laundering charges without an underlying criminal case.
(With inputs from agencies.)
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- PMLA
- court
- Chandrakant Patel
- bullion
- trader
- gold
- scam
- demonetisation
- Enforcement Directorate
- CBI
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