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
Punjab_govt_resized
Punjab: 2 IAS Officers Transferred in Late Evening Move, Jaspreet Singh Takes Over as MD of Punjab INFOTECH
UPPSC_UPPCS_resized
UPPSC PCS 2025 Prelims on October 12: 42 Exam Centres in Meerut, First-Time Room Inspector Training Introduced
ED _Enforcement_Directorate
ED Sends Fresh Notice to Nikant Jain, Close Aide of Suspended IAS Abhishek Prakash, Amid Ongoing Probe
CEC Gyanesh Kumar
Bihar Elections 2025: CEC Gyanesh Kumar Addresses 5 Key Issues - SIR, Fake Voting, Freebies & More
BSNL
BSNL Surpasses Airtel in Mobile Subscriber Growth After Nearly a Year; Jio Leads with 19 Lakh Additions in August
NTPC_Tapovan Donates_Ambulance_
NTPC Hands Over ₹30 Lakh Advanced Life Support Ambulance to Chamoli District Hospital to Boost Emergency Healthcare
NTPC_Barauni_signed_agreement_
NTPC Barauni to Install 89 High-Mast Lights Across Begusarai to Boost Safety and Community Development
BPCL_bags_Excellence_Awards_
BPCL Wins Top Honours for City Gas Distribution and Customer Service at 19th PNGRB Foundation Day
ADVERTISEMENT
ADVERTISEMENT
Videos
IDES Saquib Alam
UPSC Strategy & Mindset Tips from IDES Officer Saquib Alam | Video Interview 
Dr G K Goswami IPS
Everything you ever wanted to know about e-murder, e-dacoity and data safety
IFS Ravikant Meena UPSC IFS
Ravikant Meena on IFS Preparation, Optionals, and Life in Forest Service
ADVERTISEMENT
UPSC Stories
IDES Saquib Alam
UPSC Strategy & Mindset Tips from IDES Officer Saquib Alam | Video Interview 
Discover how IDES officer Saquib Alam left his corporate job at Mahindra, overcame six UPSC attempts,...
Utkarsh Ujjwal IAS
IAS Utkarsh Ujjwal Shares Key Advice for UPSC Aspirants: Work Ethic, Failure, and Focus
Read the inspiring journey of IAS Utkarsh Ujjwal, 2023 batch, Gujarat cadre. From IIT Guwahati to clearing...
Sagar Datta Majumdar UPSC CSE 2024 AIR 317
“Don’t get trapped in the vicious cycle of self-doubt,” says UPSC Achiever Sagar Datta Majumdar
Discover how Sagar Datta Majumdar from Agartala, Tripura, cracked UPSC CSE 2024 with All India Rank 317....
Social Media
World Rhino Day India
On World Rhino Day, IFS Officer Parveen Kaswan Shares Rare Insights - India Now Hosts 80% of the World’s One-Horned Rhinos
September 22 Marks Global Call for Rhino Conservation; India Holds 80% of World’s Greater One-Horned...
Parag Madhukar Dhakate
Relentless Rains Wreak Havoc in Dehradun: IFS officer PM Dhakate Warns Citizens Amid Flash Floods
Cloudbursts in Dehradun triggered flash floods. IFS officer Dr. PM Dhakate warned citizens to stay indoors...
Forest Guard Tiger Encounter
Tigers Clash in the Wild as Forest Guards Capture Rare Footage , Retired IFS Mohan Pargaien Posts Viral Video
Retired IFS officer Mohan Pargaien shares viral video of three tigers brawling in Ramnagar, as forest...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
Punjab_govt_resized
Punjab: 2 IAS Officers Transferred in Late Evening Move, Jaspreet Singh Takes Over as MD of Punjab INFOTECH
UPPSC_UPPCS_resized
UPPSC PCS 2025 Prelims on October 12: 42 Exam Centres in Meerut, First-Time Room Inspector Training Introduced
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
IDES Saquib Alam
Dr G K Goswami IPS
IFS Ravikant Meena UPSC IFS
ADVERTISEMENT
ADVERTISEMENT