Document Fragment View

Matching Fragments

6. Mr. Amit Kumar Das, learned Retainer Counsel-E.D. has submitted that the petitioner is the Managing Director of M/s Usha Martin Ltd. and was responsible for taking all material decisions on behalf of the said company. He has stated that M/s Usha Martin Ltd. was granted a mining lease for iron ore at Ghatkuri at West Singhbhum for the captive use of minerals and an undertaking was given on behalf of the company that the ore so excavated from the said mine would be used for captive use of the company, but by violating the said condition, Iron Ore was illegally exported to countries like China and was also sold in open market generating a proceeds of crime to the tune of Rs. 1,90,36,77,679/-. During investigation, the witnesses had established that the petitioner was the overall In-charge looking after the entire operation of the company and he was responsible for illegally diverting the sold iron ore from Ghatkuri Mines and exported to countries like China and had concealed the said transactions. It has been submitted that in course of investigation, it has been established that the petitioner since the very inception had an intent to sell/export the iron ore, but by giving false undertaking, secured allocation of the mining lease in favour of the company and thereby started sell/export of the iron ore while concealing the same in the Company's returns. It has further been submitted that when the offence got unearthed, the petitioner in order to frustrate the proceedings started transferring the properties of M/s Usha Martin Limited to Neutral Citation (2025:JHHC:26964) M/s Tata Sponge and Iron Limited. Even the Ghatkuri Mines have been transferred vide a Memorandum dated 09.04.2019, i.e. after initiation of the investigation. The petitioner during investigation of the predicate offence had also tried to influence the investigating agency of the predicate offence by trying to bribe the Superintendent of Police of CBI, for which an F.I.R. bearing RC AC 1 2020 A0004 dated 02.10.2020 was initially instituted against the officials of M/s Usha Martin Limited along with one Binay Jalan, C.A. and; Parth Jalan, S/o Binay Jalan, who had tried to bribe the S.P., CBI, New Delhi for disposal of F.I.R. bearing No. RC 220 2016 E 0017 dated 20.09.2016 (instituted for the predicate offence). Learned counsel further submits that the petitioner has no regard to the directions passed by this Court. This Court, while granting interim protection to the petitioner vide order dated 15.12.2023 had recorded the undertaking of the petitioner that he would be submiting himself to the trial court on or before 25.01.2024, but despite such undertaking, the petitioner never appeared before the trial court and thus, it is apparent that the petitioner only in order to secure an interim protection had given a false undertaking before this Court. Learned counsel adds that recently when the petitioner had moved the Hon'ble Apex Court in S.L.A. (Crl.) No. 16648/2024, he was granted an interim protection with an observation that he would join the investigation by physically presenting himself before ED and CBI, but despite such directions, the petitioner never cared to appear before the trial court or the respondent- authorities in connection with the present case. Mr. Das, Neutral Citation (2025:JHHC:26964) has summarized the grounds which, according to him, should be considered by submitting that the petitioner is directly involved in the offence of money laundering, and he has not only generated but also laundered the proceeds of crime to the tune of Rs. 1,90,36,77,679/-, had never co- operated with the investigation and avoided all summons issued to him, tampered with the evidence and started transferring the assets of M/s Usha Martin Ltd. including the plant located at Singhbhum East as well as Ghatkuri Mines in favour of M/s Tata Sponge & Iron Limited, had tried to bribe the Investigating Officer with respect to the predicate offence, for which a separate case had been instituted and had given a false undertaking before this Court as recorded in the order dated 15.12.2023 and did not comply with the same which disentitles him for grant of any relief in the instant case.