Bhopal (Madhya Pradesh): The special court of Enforcement Directorate (ED) and Lokayukta court have both rejected the bail applications of Saurabh Sharma, a key figure in a major corruption and money laundering case. Sources said on Thursday that both courts dismissed the applications filed by Sharma’s lawyer, Rakesh Parashar, in their respective hearings.
Saurabh Sharma, along with Chetan Singh Gaur and Sharad Jaiswal, has been under investigation for their alleged involvement in illegal financial activities. The Enforcement Directorate’s court had heard arguments regarding the bail application on Wednesday.
After considering the matter, the ED court reserved its order and, on Thursday, rejected the application. The court cited ongoing investigations and the seriousness of the charges against Sharma as reasons for its decision. The Lokayukta court also deliberated on the bail plea. The prosecution, represented by Special Public Prosecutor Vivek Gaur, stated that the Lokayukta court heard discussions related to the bail application and, after reviewing the arguments, rejected it.
Moreover, the Lokayukta court has reserved its decision on a separate application from the Income Tax (I-T) Department, which sought permission to question Sharma, Gaur, and Jaiswal for 20 days. The court will announce its ruling on this matter on Friday. Earlier this week on Monday, the I-T Department had filed an application in the Lokayukta court, requesting permission to interrogate the accused individuals regarding the sources of a massive stash of assets seized during the investigation.
Among the recovered items were 52 kilogrammes of gold and Rs 11 crore in cash found in a car owned by Chetan Singh Gaur. The I-T Department has also highlighted concerns over unaccounted financial transactions, properties and companies linked to the three men.
The Income Tax Department’s legal team, led by Harshvardhan Topne, Ikram Khan and IT Officer Payal Gupta, said that questioning Sharma and his associates was crucial to understanding origins of these assets. The defence lawyers, however, argued that the investigations by the Lokayukta and ED were already extensive, questioning the need for further interrogation. The court’s decision on the IT Department’s request is expected on Friday.
