CBI Court refuses bail to lawyer Gautam Khaitan in a case under the Black Money Act

A Special CBI Court yesterday refused to grant bail to lawyer Gautam Khaitan in a case under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015..The order was pronounced by Judge Arvind Kumar. .Gautam Khaitan, who is also one of the accused in the AgustaWestland chopper case, was arrested by the Enforcement Directorate on January 26 under the Black Money Act pursuant to a fresh ECIR. He is accused of having several undisclosed foreign bank accounts and beneficial interest in several undisclosed foreign entities, gained in the name of legal consultancy. As per the ED, the ‘proceeds of crime’ under investigation amount to nearly Rs. 800 crore..“..considering the serious nature of allegations, gravity of offence and stage of the investigation, I do not consider to be a fit case for grant of bail. The bail of the accused is dismissed.“, the Court ordered..On January 26, a Magistrate had sent Khaitan to two days’ ED custody. On January 28, Khaitan was remanded to five days’ custody with ED by the CBI Court. His custody was further extended by six days on February 2..He was sent to judicial custody on February 8..Khaitan had sought his bail in the case on the ground that there was no longer any need for him to be in custody. He had also alleged that his prosecution was a “pure case of malice”. It was argued that since Khaitan was already facing prosecution for the same act by the Income Tax Authorities, his prosecution under the Black Money Act amounted to double jeopardy. Moreover, since the alleged acts/offence took place before the Black Money came into force, it was submitted that the Act could not be applied retrospectively..The Agency, however, strongly opposed his bail plea and called him a “master launderer” and a “habitual offender”. ED also clarified that the present case was not the same as the one initiated by the Income Tax Authorities and that he was being prosecuted for two distinct offences under the law..Citing the risk of evidence being tampered with and witnesses being influenced, the Agency had prayed for denial of bail before the Agency submits its prosecution complaint..Singh also revealed that Khaitan’s association with Deepak Talwar, who is currently under judicial custody for another offence, has also come to the surface..Khaitan was represented by Senior Advocate Siddharth Luthra and Advocate PK Dubey..ED was represented by SPP DP Singh..Read the order: