A special court in Mumbai on Tuesday granted permission to businessman Raj Kundra, who is accused of money laundering, to travel abroad to several countries between June and July for business purposes. The Enforcement Directorate (ED) had strongly opposed the travel plea, arguing that allowing the travel could lead to Kundra absconding or violating bail conditions.
Court Rejects ED Objections
Rejecting the objections raised by the investigative agency, the judge noted that the Look Out Circular issued against Kundra had already been cancelled by the Economic Offences Wing. The judge stated, "There is nothing on record to show that the applicant has misused the liberty granted to him. The right to travel abroad is an aspect of fundamental right guaranteed under the Constitution of India."
Travel Destinations and Conditions
The court allowed Kundra to travel to Hong Kong, Dubai, Tokyo, Los Angeles, Toronto, and Melbourne on several dates between June 7 and July 27. The judge remarked, "No prejudice will be caused, if the applicant is permitted to travel abroad as prayed subject to the permissibility of international air flight in current situation."
The court directed Kundra to deposit a security amount of Rs one lakh. Additionally, he must furnish a complete itinerary, including residential addresses, reachable phone numbers, and a working email ID to the investigating officer before leaving India. Upon his return, Kundra must immediately report to the investigating officer and submit a compliance report to the court. Furthermore, the court ordered that Kundra must attend the investigating agency immediately if required and must return to India if the trial reaches the stage of framing charges.
Background of the Case
The ED's money laundering case originated from multiple FIRs registered by the Maharashtra and Delhi Police against Variable Tech Private Limited and several individuals, including the now-deceased Amit Bhardwaj. The ED alleged that the promoters collected vast sums in Bitcoins from the public by promising a 10 percent monthly return. Instead of using these funds for Bitcoin mining as promised, the promoters reportedly cheated investors and concealed the assets in obscure online wallets.
