The Enforcement Directorate (ED) has been granted an extension of six days of custody for Basant Bansal, Pankaj Bansal, promoters of the M3M group, and Ajay Parmar, the nephew of suspended judge Sudhir Parmar. The court ruled that they should be confronted with the details of Ajay Parmar's immovable assets in connection with the judge bribery case. Additionally, the ED alleged that individuals associated with the Bansals had attempted to influence their medical test reports.
Basant Bansal, director in M3M India Holdings Private Ltd, and Pankaj Bansal, director in M3M India Private Limited, were initially arrested on June 14 and granted a five-day remand. Ajay Parmar was arrested subsequently and had a four-day custody. Now, with the extension of custody, they are scheduled to appear in court again on June 26.
The ED's investigation stems from an FIR registered by the Haryana Anti-Corruption Bureau (ACB) on April 17. In response, the ED initiated an Enforcement Case Information Report (ECIR) on June 13, targeting Sudhir Parmar, Ajay Parmar, Roop Bansal (another M3M promoter), and others. However, permission to arrest Sudhir Parmar must be sought from the high court.
During Ajay Parmar's custodial interrogation, the ED claimed to have discovered details of immovable assets acquired through dubious receipts disguised as friendly loans. To further investigate this matter, it is crucial to confront Basant Bansal and Pankaj Bansal, according to the ED's submission to the court.
The ED also raised concerns regarding the time consumed by medical examinations and reports requested by the accused, alleging that individuals associated with the arrestees had attempted to influence the medical examination process. Consequently, the ED had to modify the procedure, resulting in a significant portion of the custodial interrogation time being utilized for medical purposes.
In a separate case, Roop Bansal, director of M3M India, was produced before the Panchkula court in relation to the IREO case and was subsequently sent to judicial custody. The ED has been investigating the IREO Group for alleged siphoning of customers' investments, claiming that approximately Rs 404 crore was funneled through the M3M group.
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