 "Sanjay Raut")
A special court here on Monday extended by 14 days the judicial custody of Shiv Sena MP Sanjay Raut, an accused in a money laundering case investigated by the Enforcement Directorate.
Raut was produced in the special Prevention of Money Laundering Act (PMLA) court as his judicial custody expired on Monday.
Special judge M G Deshpande, who is hearing the bail application of Raut, extended his custody by another 14 days.
Additional Solicitor General Anil Singh, appearing for ED, on Monday made his submissions against Raut's bail plea in the court.
Raut was arrested by the ED on August 1 in a money laundering case linked to alleged irregularities in the redevelopment of Patra 'chawl' in Mumbai. He is currently in judicial custody.
The ED probe pertains to alleged financial irregularities of Rs 1,034 crore pertaining to the redevelopment of the chawl or tenements in suburban Goregaon and related financial transactions allegedly involving his wife and associates.
Singh argued that a large amount of loan received from financial institutions was not utilised for the intended purpose (redevelopment of the chawl).
"All the tenants of the 672 flats are sufferers as they are out of home," the ASG added.
The ED had alleged that Raut was a beneficiary of the "proceeds of crime" running up to Rs 3.27 crore.
In his submission, Singh told the court that Raut had explained about Rs 1.06 crore (of Rs 3.27 crore).
Singh will continue his arguments on October 17.
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