Real estate agent Avinash Bhosale’s son another gets bail in money laundering case


A special court under the Prevention of Money Laundering Act has granted bail to Amit Bhosale, son of businessman Avinash Bhosale, in a disputed money laundering case. an investigation by the Law Enforcement Directorate (ED). Besides Bhosale, another defendant in the case, Ranjit Mohite, was also released on bail.

The special court has heard of the indictment filed by the agency last month against four defendants in the case. Since the charges against the accused were not on bail, the court formally took the accused into custody but granted bail to Bhosale and Mohite. The court said they could be released by posting a personal bond of Rs 2,00,000 with one or two sureties of a similar amount.

Bhosale’s claim was filed by lawyers Vijay Aggarwal and Rahul Agarwal who said the defendant was falsely implicated in the present case and is innocent and will prove the same during the proceedings.

It was then that Special Prosecutor Kavita Patil, representing the ED, vehemently opposed the bail plea filed by the defendant and said the agency wanted to file a formal response.

READ ALSO | Who is Avinash Bhosale, the multi-millionaire detained by CBI in the Yes Bank-DHFL case?

However, Special Judge MG Deshpande said this was not necessary given recent Supreme Court guidelines. ED still submitted, for example, opposing applications. The judge observed that, “Certainly they (the defendants) were not arrested during the investigation.”

While granting reparation, the court also allowed the release of the accused on provisional cash bail of Rs 2,00,000 with a personal surety on the condition of posting bail within four weeks.

The case against Bhosale and others, including his company Ara Developers, revolves around the purchase of land in Pune which is believed to have been earmarked for the construction of a residential building for bureaucrats. After allegedly manipulating the rules, Bhosales bought it and built the headquarters of his company there, Avinash Bhosale Infrastructure Pvt Ltd (ABIL).

READ ALSO | ED files indictment against son of Pune estate agent Avinash Bhosale in land grab case

Avinash Bhosale is also a director at Ara Developers and an ED investigation is reportedly underway against him. The agency may file an additional complaint against Avinash Bhosale in this case.

In the meantime, Bhosale’s plea asserted “that there is no intended offense due to the closure thereof and, therefore, there is therefore no basis on which the present case registered under of the PMLA may be settled in the recent judgment by the 3-member Supreme Court seat.The defendants will likely soon file a plea for discharge in the ED case.

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