https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

IRS Officer Granted Bail in Money Laundering Case

The Anti-Corruption Bureau (ACB), Mumbai, registered an FIR against him under several sections of the Prevention of Corruption Act, 1988
Indian Masterminds Stories

The Bombay High Court on Wednesday granted bail to former Indian Revenue Service (IRS) officer Sachin Sawant, who was arrested in a money laundering case. The court cited the merit of his case and the extended duration of his incarceration as reasons for the bail, noting the unlikelihood of a swift trial.

Sawant, 43, a former Joint Commissioner of Customs, was arrested on June 27, 2023, on charges of acquiring assets disproportionate to his known sources of income. The Anti-Corruption Bureau (ACB), Mumbai, registered an FIR against him under several sections of the Prevention of Corruption Act, 1988, including charges related to the prohibition of money laundering activities and the acquisition of disproportionate assets.

The allegations pertain to the period between January 2011 and August 2020, during which Sawant is accused of amassing assets worth ₹2.45 crore beyond his legitimate income. Investigations revealed that a significant portion of his wealth was used to purchase a flat under the name of M/s Seven Hills Constrowel (India) Pvt. Ltd., with funds routed through loans and family accounts.

Further examination of Sawant’s bank accounts suggested that cash deposits, allegedly from illegal sources, were used to repay these loans, raising concerns about the origins of the funds. Investigators claimed Sawant received substantial sums in cash during his time in various government departments, which were channeled through family accounts and used to purchase assets.

However, Sawant’s defense team, led by advocates Ashok Mundargi, Niranjan Mundargi, and Mithilesh Mishra, argued that procedural errors had occurred, including an unsigned FIR and insufficient material in the remand application to justify his arrest. They further pointed out that statements under the Prevention of Money Laundering Act (PMLA) were recorded after the arrest, suggesting a predetermined stance by the authorities.

Despite the Enforcement Directorate’s (ED) assertion that there was clear evidence of money laundering, Justice Manish Pitale granted bail, concluding that Sawant met the “twin test” under Section 45 of the PMLA, indicating a reasonable chance of innocence and no risk to the ongoing investigation.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
CBI
ACC Approves Promotion of IPS Officers Manoj Shashidhar and Sampat Meena as Special Directors in CBI
Sagarmala Development Company Limited
S Thirumalai Selvam Appointed Director (Projects) at Sagarmala Finance Corporation Limited - Profile, Career, & Role Explained
Department-Of-Telecommunications_DoT-resized
Telecom Act 2023: DoT Rolls Out Draft Rules for Main Services, Offers Optional Migration
IPS officer Kishan Kumar
Delhi: Retired IPS Officer Kishan Kumar Alleges Harassment by ASI Balwan Singh, Seeks Police Protection
IAS Tirumani Sri Pooja
IAS Tirumani Sri Pooja Assumes Charge as Project Officer of Paderu ITDA, Pledges to Boost Tribal Development in ASR District
mohan yadav
World EV Day 2025: CM Mohan Yadav Pushes Madhya Pradesh to Become India’s EV Manufacturing Hub
mohan yadav
MP: CM Mohan Yadav to Transfer ₹175 Crore Assistance to Workers’ Families under Sambal Scheme In Bhopal
coal-India-limited-scaled
Coal India Explores Setting Up Data Centres in Decommissioned Mines to Boost Digital Capacity
ADVERTISEMENT
ADVERTISEMENT
Videos
IPS Shikha Goel
How Modern Forensics Helps Police Solve Crimes – IPS Officer Shikha Goel Explains | Video Interview
IPS Shikha Goel
Decoding Digital Dangers: Insights from IPS Shikha Goel on Cyber Crimes
IPS Mukesh Kumar Bhamoo
Managing Elections, Communal Tensions, and Public Safety – Meet IPS Mukesh Kumar Bhamoo | Video Interview
ADVERTISEMENT
UPSC Stories
Ishwarlal Gurjar UPSC
10th Grade Failure to Indian Police Service: Ishwarlal Gurjar’s UPSC Success Path
Read the inspiring journey of Ishwarlal Gurjar from a small village in Rajasthan to becoming an IPS officer....
IAS Minnu P M
“Lazy, Sleepy, Yet Determined”: Minnu P M’s Honest Take on Cracking UPSC
Minnu PM, once a clerk in Kerala Police, cleared UPSC with AIR 150 after five years of struggle. Her...
IPS Ashish Tiwari
From IIT and Investment Banking to Public Service, Meet IPS Ashish Tiwari 
Ashish Tiwari, IIT graduate and former investment banker, chose public service over global finance. As...
Social Media
IAS Medha Roopam
IAS Medha Roopam’s Inspiring Dedication in Flood-Hit Noida Goes Viral: Focuses on Relief, Education Amid Heavy Rains
Books in One Hand, Umbrella in Other: Noida DM Medha Roopam Leads Flood Relief from the Front
IAS Sakshi Sawhney Amritsar DC
Punjab Floods: IAS Sakshi Sawhney’s Emotional Appeal to Elderly Man Wins Hearts, Video of Humanity Goes Viral
Viral Video Captures Emotional Moment as Amritsar DC Shows Sensitivity and Courage Amid Relief Effor...
Masahiro Hara
From Go Board to Global Use, How QR Codes Changed the World: IRAS Officer Ananth Rupanagudi Spotlights Masahiro Hara’s Vision
IRAS officer Ananth Rupanagudi shared a video on Masahiro Hara, the inventor of QR codes, highlighting...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
CBI
ACC Approves Promotion of IPS Officers Manoj Shashidhar and Sampat Meena as Special Directors in CBI
Sagarmala Development Company Limited
S Thirumalai Selvam Appointed Director (Projects) at Sagarmala Finance Corporation Limited - Profile, Career, & Role Explained
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
IPS Shikha Goel
IPS Shikha Goel
IPS Mukesh Kumar Bhamoo
ADVERTISEMENT
ADVERTISEMENT