Money laundering case: IRS officer Ashutosh Verma gets bail

NEW DELHI: A Delhi court has granted bail to a senior IRS officer, who was earlier arrested by CBI for allegedly diluting I-T appraisal reports of arms dealer Suresh Nanda's companies, in a money laundering case lodged by Enforcement Directorate ( ED).

The court enlarged Ashutosh Verma on bail on furnishing a personal bond of Rs two lakh with two sureties of like amount.

Special judge V K Gupta also imposed several conditions on Verma, including that he shall not leave the country without prior permission of the court, not tamper with evidence in any manner or contact any witnesses.

"There is nothing on record to show that the accused has not joined the investigation before ED. Statement of the accused under the provision of Prevention of Money Laundering Act (PMLA) has already been recorded and investigation completed by the ED...

Keeping in view the nature and gravity of offences, severity of the punishment and the totality of the facts and circumstances of the present case, accused Ashutosh Verma is admitted to bail...," the court said.

It also noted that the offence of money laundering for which Verma has been booked by ED entails a maximum punishment of seven years.

Verma, in his bail plea filed through advocate P K Dubey, had said there was no evidence to show that he or his family members were the real owner of property at Morgim at Pernem in Goa and no prima facie case was made out against him.

The ED had opposed Verma's bail plea saying in view of the nature and gravity of offences there was apprehension of the witnesses being influenced or evidence being tampered with.

The agency also contended that if enlarged on bail, the accused was bound to interfere in fair trial and may influence the witnesses.

The ED, which has been probing this case since 2012 for alleged money laundering charges, had attached the property in Goa in January.