Bombay High Court Denies Default Bail to Sanjay Chhabriaa in Yes Bank Money Laundering Case

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Bombay High Court Denies Default Bail to Sanjay Chhabriaa in Yes Bank Money Laundering Case

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Sanjay Chhabriaa, a realtor involved in the Yes Bank money laundering case, has been denied default bail by the Bombay High Court. The court stated that money laundering requires intricate processes to make illegally-obtained money seem legal, thus necessitating thorough investigation. Despite the Enforcement Directorate (ED) submitting its prosecution complaint within the mandated 60-day period, the court dismissed Chhabriaa's petition on the grounds that the ED sought permission to conduct further investigation in the case. The ED argues that Chhabriaa played a vital role in diverting funds obtained illegally by Yes Bank's founder and a housing finance company's promoter. The court agreed with the ED, stating that money laundering involved complex interconnected transactions that demand detailed investigation. Although Chhabriaa's lawyer argued for default bail due to the incomplete investigation after his arrest, the court emphasized that further investigation into the broader money laundering offense was essential. Chhabriaa had previously been granted default bail in the CBI's corruption case pertaining to the same offense, as ruled by the Supreme Court. Chhabriaa sought bail from the High Court after his plea was rejected by a special court. The Additional Solicitor General opposed the plea, arguing that while the investigation regarding Chhabriaa was complete, the probe into the entire case was still ongoing.