A Special court on Wednesday refused to grant anticipatory bail to Vineet Gupta, the suspended manager of the Kashmiri Gate branch of the Axis Bank, in a cheating case related to a money laundering case.
Special Judge Poonam Chaudhry dismissed the plea of Gupta, who is presently in judicial custody. He had sought anticipatory bail in the case, arguing that he had apprehension that the city police would arrest him if he was able to get bail in the money laundering case.
Cops oppose plea
The police opposed his plea, submitting that a blanket order could not be passed granting him protection from arrest. Earlier, Mr. Gupta had approached the court seeking permission to surrender in the cheating case in reply to which the police had said that it would take his custody at an appropriate stage.
The Enforcement Directorate (ED) has filed a complaint under the Prevention of Money Laundering Act against Mr. Gupta, suspended manager (operations) of the bank, Shobit Sinha, and private person Rajeev Kumar Kushwaha. All the accused are in judicial custody.
Shell companies
The Directorate alleges that Mr. Kushwaha had used the identity documents of various persons allegedly to form shell companies, through which cash deposits of ₹39 crore were made between November 10 and November 22 in close connivance with the two bank officers during demonetisation.
