Allahabad HC dismisses plea of firms seeking quashing of case being probed by ED

Lucknow, Oct 22 (PTI) The Allahabad High Court has dismissed a plea of Humara India Credit Cooperative Society Limited and others seeking quashing of a case being probed by the Enforcement Directorate (ED).

A Lucknow bench said that it was of the considered view that there was no ground to interfere in the proceedings under the PMLA against the petitioners in exercise of its powers under section 482 CrPC.

The bench, however, clarified that the observations of the verdict would not affect the trial proceedings, according to an order made available on Wednesday.

A bench of Justice Subhash Vidyarthi passed the order recently on October 17, dismissing the petition filed by the cooperative society and others.

Besides Humara India Credit Cooperative Society Limited, there were other petitioners namely M/s Sahara Credit Cooperative Society Limited, M/s Stars Multipurpose Cooperative Society Limited and M/s Saharian Universal Multipurpose Society Limited.

The petitioners had sought quashing of the entire proceedings of search and seizure conducted by the ED at the petitioners' offices at Lucknow and other locations during July 3, 2024 to July 5, 2024, in pursuance of an authorisation order of July 2, 2024 issued by deputy director of ED, zonal office, Vidhan Nagar Kolkata.

The petitioners had submitted that no prima favour case was made out against them under PMLA because the investigating officer had already submitted final report in pursuance to FIR on the basis of which the present PMLA case was being probed .

It was also stated that since the Supreme Court was already seized up with the issues of Sahara group company and the group was paying the due amount of the investors as per directions of the Supreme Court, there was offence made out against the petitioners.

The petitioners had also said that since no prima facie case was made out, the present proceedings of search and seizure by enforcement act was illegal and liable to be set aside.

However, after hearing the matter, the court found that there was no reason to interfere in the present matter and accordingly dismissed the petition on October 17. PTI COR KIS ZMN