Delhi Court Clears Ratul Puri, Moser Baer, and 11 Others in Money Laundering Case

Speedy Summary:

• The Rouse Avenue Court dismissed a money laundering case against Ratul Puri, Moser Baer India limited, and 11 other accused.
• Special Judge Sushant Changotra ruled that the charges under Section 3 read with Section 70 of the Prevention of Money Laundering Act (PMLA) did not hold after the discharge in the related CBI main case.
• The enforcement Directorate’s complaint was closed on July 24, with the court stating ED could reopen proceedings if a higher court reverses the May 24, 2025 discharge order.
• The original predicate offence by CBI involved allegations under IPC sections for criminal conspiracy (120-B), cheating (420), forgery (468 & 471), and provisions of corruption under the Prevention of Corruption Act, 1988.
• Advocate Vijay Agarwal argued that without “proceeds of crime,” prosecution for money laundering is unsustainable as per PMLA requirements.
• ED cited pending Supreme Court reviews but their arguments were deemed addressed by Delhi High Court previously.

Indian Opinion Analysis:

This decision underscores judicial reliance on established legal principles regarding “proceeds of crime” in money laundering cases. By linking dismissal to prior acquittal in a CBI-related matter, it highlights how procedural outcomes influence subsequent financial crime investigations. For businesses like Moser Baer India Limited, this acquittal may offer reputational relief after prolonged scrutiny. However, uncertainties remain as ED retains rights to appeal upon changes in higher courts’ rulings regarding related cases.India’s corporate ecosystem might view this as clarity on prosecutorial thresholds but must remain vigilant about ongoing judicial interpretations shaping enforcement dynamics.

Read more: Published – July 25, 2025