India

Court Acquits Nitin Bhatnagar In Rs 354 Crore Fraud Case, Pulls Up ED

In a significant development, the Rouse Avenue Court has acquitted Nitin Bhatnagar, a close associate of Ratul Puri, in a Rs 354 crore fraud case involving the Central Bank of India. The court has also pulled up the Enforcement Directorate (ED) for its investigation and prosecution in the case.

Bhatnagar was accused of helping Ratul Puri, nephew of senior Congress leader Kamal Nath, and others to launder money through a real estate company. However, the court observed that Bhatnagar, working as a relationship manager in the Bank of Singapore, had no way of knowing that the funds were part of the fraud money.

Also Read: CBI Assigns Senior Officer Seema Pahuja To Probe Kolkata Junior Doctor’s Rape & Murder

The court also criticized the ED for relying on the statements of Rajiv Saxena, who had turned approver in the AgustaWestland scam case, and for not recording the statement of any hawala dealer despite claiming that the money was transferred through hawala channels.

Additionally, the court pulled up banks for failing to report suspicious transactions to the authorities, stating that they failed to follow due diligence procedures in tracing the crime money.

The acquittal of Nitin Bhatnagar is a significant setback for the ED, which had alleged that Moser Baer, ​​where Ratul Puri was the executive director, had defrauded the Central Bank of India and other banks to the tune of Rs 7,980 crore.

Richa Kaushik

Recent Posts

Horoscope Today, 27 October 2025: Know What Your Zodiac Sign Says!

Horoscope Today, 27 October 2025: Curious what the stars have in store? Discover how your…

4 hours ago

Lawyers Allege Abuse By ED Patna Officials; Write To Chief Justice BR Gavai

Two Patna High Court advocates wrote to Chief Justice BR Gavai, alleging misconduct by ED…

5 hours ago

Amit Shah To Deliver Cutting-Edge Deep-Sea Fishing Vessels At Mazagon Dock

On Monday, Amit Shah will hand over Rs 1.2 crore deep-sea fishing vessels to beneficiaries…

9 hours ago

Washington Post Faces Credibility Questions Over Reports On India

Washington Post reporting on India, including alleged Adani Group support, faces criticism for lack of…

9 hours ago

Indians Stand Firm Behind LIC On Foreign Allegations

Foreign media scrutiny fails to shake Indians’ faith in LIC as the national insurer reports…

10 hours ago

Dr Rajeshwar Singh Proposes AI-Powered Humane Monitoring System For Uttar Pradesh Slaughterhouses

Dr Rajeshwar Singh urges CM Yogi Adityanath to adopt an AI-based humane monitoring system for…

10 hours ago