AMIT AGGARWAL vs DIRECTORATE OF ENFORCEMENT

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Pronounced on: 29.01.2026 + BAIL APPLN. 4124/2025 AMIT AGGARWAL .....Petitioner Through: Ms. Anjali Jha Manish, Mr. Priyadarshi Manish, Ms. Madhuri Malegaonkar, Ms. Kratika Shaiyam, Advocates. versus DIRECTORATE OF ENFORCEMENT .....Respondent Through: Mr. Zoheb Hossain, Special Counsel with Mr. Vivek Gurnani, Panel Counsel with Mr. Kartik Sabharwal, Mr. Kanishk Maurya, Mr. Pranjal Tripathi, Advocates. CORAM: HON'BLE MR. JUSTICE RAVINDER DUDEJA JUDGMENT RAVINDER DUDEJA, J. 1. This is an application for grant of regular bail filed on behalf of applicant in case FIR No. 45/2022 under Sections 3 and 4 of the Prevention of Money Laundering Act [“PMLA”], registered at Police Station EOW. BAIL APPLN. 4124/2025 Page 1 of 17 Signature Not Verified Digitally Signed By:VAISHALI PRUTHI Signing Date:29.01.2026 16:46:04 Brief Facts of the case: 2. The case arises from FIR No. 45/2022 dated 16.03.2022 registered by the Economic Offences Wing, Delhi, based on a complaint by Chartered Accountant Mr. Vikash Mohpal that forged Form 15CB certificates bearing his credentials were being used to facilitate foreign remittances through banks, mainly ICICI Bank. These certificates were falsely shown as supporting outward remittances for freight, logistics, and import payments. Since the offences under Sections 420, 467, 468, 471, and 120-B of the Indian Penal Code [“IPC”] are scheduled offences under the PMLA, the Directorate of Enforcement [“ED”] registered an ECIR vide ECIR/DLZO-II/24/202 on 28th March, 2022. 3. Investigation by the respondent agency revealed that several Indian entities fraudulently remitted approximately Rs. 696.69 crore to overseas entities in Singapore and Hong Kong. The remittances were based on forged Form 15CB and Form 15CA ce