NEW DELHI, July 29:
A Delhi court today denied bail to a woman director of two Dubai-based firms, arrested in connection with its probe in the Rs 3,600-crore VVIP chopper money laundering case and sent her to judicial custody.
Special Judge Arvind Kumar sent Shivani Saxena, a director of Ms UHY Saxena and M/s Matrix Holdings, both located in Dubai, to judicial custody till August 10 after her ED custody expired today.
Advocate N K Matta, appearing for the ED, submitted that she was not required for further custodial interrogation.
Thereafter, a bail application was moved by senior advocate Mohit Mathur, appearing for the accused, claiming that since she was not required for further ED custody, she should be granted bail.
The plea also claimed that the health condition of the accused was not good and a lenient view should be taken as she was a woman.
The ED, however, claimed that the probe was at a very crucial stage and if granted the bail, she may tamper with the evidence.
“Economic offences are even more dangerous than murder. There are serious allegations against her,” Matta said.
The court had on July 26 granted the Enforcement Directorate (ED) three days to interrogate her after the agency had submitted that she was required to be confronted with various incriminating documents to ascertain the proceeds of the crime and the money trail.
The ED had arrested Saxena on July 17 from Chennai under the provisions of the Prevention of Money Laundering Act (PMLA).
Saxena and her husband Rajiv are residents of Palm Jumeirah in Dubai, an archipelago which is home to the most expensive properties in the United Arab Emirates (UAE).
The ED has alleged that the two Dubai-based firms Saxena was involved with are those “through which the proceeds of crime have been routed and further layered and integrated in buying the immovable properties/shares among others” in this case. (PTI)
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