Delhi HC orders Yogesh Mittal’s release in money laundering case

New Delhi: The Delhi High Court on Tuesday ordered the release of businessman Yogesh Mittal, who was arrested in connection with a post-demonetisation money laundering case.

The accused had allegedly converted demonetised notes into valid currency and was arrested by the Enforcement Directorate (ED).

The ED, on June 6, arrested Mittal, who is a close associate of advocate Rohit Tandon.

The ED had, earlier in February, issued a provisional order order attaching movable and immovable properties worth Rs 6,84,26,500 of Tandon, Kolkata-based businessman Paras Mal Lodha and others in money laundering case post demonetisation.

The investigation conducted so far has revealed that post demonetisation, Lodha along with others illegally exchanged demonetised currency of Tandon and others into monetised form on commission basis with the help of Suman, Amranjay Kumar, Atul Kumar Aggarwal, Manoj Kumar Aggarwal and others including Hawala operators.

Lodha was held in Mumbai by the Enforcement Directorate after they recovered a huge cache of new currency notes of Rs 500 and Rs 2,000 from a Delhi law firm, which belonged to advocate Tandon and Chennai based businessman Sekhar Reddy.

Tandon was arrested last year in December, after the Crime Branch and the Delhi Police carried out raids at the office of his firm T&T Law and seized nearly Rs 13.5 crore, of which Rs 2.6 crore was in new banknotes released after demonetisation.