Iqbal Mirchi case: ED opposes bail plea of 3 accused

The Enforcement Directorate (ED) on Saturday opposed the bail plea of three accused in the ongoing probe against real estate dealings by Dawood Ibrahim aide, the late Iqbal Memon alias Iqbal Mirchi. A special Prevention of Money Laundering Act (PMLA) court was hearing the bail application by city-based businessman Ranjeet Bindra; British national Haroun Yusuf; and businessman Humayun Merchant.

The defence lawyer, Abad Ponda, had challenged the basis of the allegations, stating that there was no scheduled offence registered against Mirchi prior to 1990, while the dealings in question took place in 1986. Hence, the dealings were not from proceeds of criminal activity, Ponda had argued. Scheduled offences under the PMLA include cases pertaining to narcotics, arms and explosives, among others. Advocate Sujay Kantawala, representing Merchant, had argued that section 19 of the PMLA, which authorises arrests by officers, was not followed.

Opposing their pleas, ED’s counsel Hiten Venegaokar on Saturday argued that the property was acquired in three phases in 1986, 1999 and 2005 and the money used to purchase them was the proceeds of criminal activity. Venegaonkar will continue his arguments on Monday.

Arguments for the fourth accused, Rinku Deshpande, who has also moved for bail, are pending. The agency is currently investigating three properties — Sea View, Marium Lodge and Rabia Mansion — that Mirchi had purchased in 1986 from Mohammad Yusuf Trust. According to the agency, payments related to the dealings were routed to Dawood’s D-Company in Dubai.