Underworld don Dawood Ibrahim's brother Iqbal Kaskar.
Credit: PTI File Photo
Mumbai: Noting the delay in trial cannot be the criterion to grant bail as a probe agency is supposed to undertake a "lot of minute exercise" to ensure innocent persons are not booked, a special court denied relief to Underworld don Dawood Ibrahim's brother Iqbal Kaskar in a money laundering case.
Kaskar was arrested in 2017 in an extortion and Maharashtra Control of Organized Crime Act (MCOCA) case registered by Thane Police. Subsequently, the Enforcement Directorate, probing a money laundering case based on the police FIR, took Kaskar's custody in February 2022.
He is currently in judicial custody.
Special Prevention of Money Laundering Act (PMLA) court judge B D Shelke rejected Kaskar's bail plea on July 26.
"A lot of minute exercise is expected to be undertaken by the investigating agency to see that no innocent is wrongly booked and that no culprit escaped from the clutches of law. Hence, mere delay in a trial is also not a ground to grant bail," the court noted in its order, made available recently.
Kaskar's two alleged associates, also co-accused in the case, collected protection money of Rs 30 lakh and also transferred (ownership of) a flat from a Thane-based person on his behalf, according to the ED.
Kaskar's plea cited delay in the trial and contended that the amount involved in the case is less than Rs 1 crore, which makes it a bailable offence in view of section 45 of the PMLA.
The plea mentioned the absence of any material on record showing Kaskar's complicity in the crime and also the lack of evidence to establish his nexus with the two co-accused.
Special Public Prosecutor RR Yadav, who appeared for the ED, argued that the value of the laundered properties crossed Rs 1 crore.
He submitted that the accused had extorted Rs 30 lakh in cash, got a flat valued Rs 60 lakh transferred, and collected Rs 10 lakh via cheque from the Thane resident.
Additionally, they demanded transfer of four flats in their favour through extortion. Altogether, the value of all properties is more than Rs 1 crore, which means the offence does not fall in the category of a bailable offence, Yadav argued.
Accepting the prosecution's arguments after perusal of documents on record and the statement of witnesses, the court denied bail to Kaskar.