M3M Real estate firm owners are granted bail in a money laundering case by the Supreme Court.

The Punjab and Haryana High Court’s July 20 ruling dismissing the Bansals’ bail requests prompted them to file an appeal with the Supreme Court because the case was severe.

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In a money laundering case, the Supreme Court on Tuesday granted bail to Basant Bansal and Pankaj Bansal, directors of the Gurugram-based real estate business M3M.
After hearing arguments from attorneys, the relief was given to the real estate firm’s directors by a bench of justices A S Bopanna and Sanjay Kumar on September 11.

The Punjab and Haryana High Court’s July 20 ruling dismissing the Bansals’ bail requests prompted them to file an appeal with the Supreme Court because the case was severe.

The Enforcement Directorate had previously detained Basant and Pankaj Bansal as part of the money laundering investigation related to the alleged bribery case.

On August 11, the top court requested comments from the center and the Enforcement Directorate regarding the accused directors’ bail request in response to the high court’s decision to deny them release on bail as the ED investigated an alleged bribery case against a former judge.

Basant Bansal and Pankaj Bansal were detained in connection with a money laundering case stemming from an FIR against Sudhir Parmar, a former special judge for ED and Central Bureau of Investigation (CBI) cases assigned to Panchkula, that was filed by the anti-corruption division of the Haryana Police in April: his nephew and a third M3M group director Roop Kumar Bansal.

The FIR said that Parmar was allegedly displaying “favouritism” to the defendants in the ED and CBI cases currently pending in his court, including Roop Kumar Bansal, his brother Basant Bansal, and real estate firm IREO owner Lalit Goyal.

After the ACB case was filed, Parmar was suspended by the Punjab and Haryana High Court.

Before making the arrests, the ED claimed to have gathered “incriminating evidence such as bank statements and money trail, etc.” regarding the claims in the FIR.

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