Jignesh Shah’s Bail Hearing Postponed to July 30
Jignesh Shah’s bail application hearing, which was scheduled to be considered by the anti-money laundering court in Mumbai on Tuesday, has been postponed to July 30. The Enforcement Directorate has filed a reply to the bail application, the investigative agency’s lawyer Hiten Venegaonkar said. Shah’s judicial custody expires on August 1.
The Enforcement Directorate had arrested Shah on July 12 on charges of money laundering and for allegedly not cooperating with investigations. The investigating agency told the special court earlier that they found evidence of money laundering against Shah under the Prevention of Money Laundering Act, 2002 (PMLA).
63 Moons Technologies Seeks Access to Bank Accounts
In a related development, Jignesh Shah-promoted 63 Moons Technologies Ltd., earlier known as Financial Technologies Ltd., moved the Bombay High Court seeking to access the company’s bank accounts. The Economic Offences Wing of the Mumbai Police had secured movable and immovable properties of the company, including bank accounts, on July 19.
The company lawyer argued that they were seeking limited relief in order to meet operational expenses and pay salaries to employees.
The court however rejected the plea, stating that it was being argued on the basis of the same application moved by them on July 20, seeking a stay on the EOW action.
The court reasoned that since that application had already been rejected, it was not possible to grant even a limited stay, and directed the company to file a fresh application.
About 150 employees of 63 Moons Technologies staged a dharna outside the Mumbai Police Commissioners office on Tuesday afternoon, demanding that the company be allowed to operate its bank accounts, so that they could be paid salaries.