1 month ago
Bombay HC Quashes Money Laundering Case Against DB Realty MD
The Bombay High Court has dismissed a money laundering case against Vinod Goenka, the managing director of DB Realty, and the company itself.
The court decided this because the company from which the money was allegedly received, Parvesh Construction Pvt.
Ltd., was found not guilty of any crime.
The Enforcement Directorate (ED) had claimed that DB Realty was involved in a fake real estate deal to hide illegal money.
However, the court ruled that since the original company was cleared of any wrongdoing, the money laundering case against Goenka and DB Realty could not continue.
The court also referred to a previous Supreme Court ruling to support its decision.
The Bombay High Court quashed the money laundering case against Vinod Goenka and DB Realty.
The court ruled that Parvesh Construction Pvt. Ltd. was discharged, meaning no scheduled offence existed.
The ED alleged that DB Realty was involved in a sham real estate transaction to legitimize tainted funds.
The defense argued that the money laundering case could not continue if the source of the proceeds of crime was cleared.
The court referred to the Supreme Court's judgment in Vijay Madanlal Choudhary to support its decision.
- Who
- Vinod Goenka and DB Realty
- What
- Quashing of money laundering case
- Where
- Bombay High Court
- When
- July 28, 2026
- Why
- No scheduled offence and no proceeds of crime
Defense Argument
ED's Allegations
Proceeds of Crime
Defense Argument
The defense argued that Parvesh Construction Pvt. Ltd. was discharged, meaning no scheduled offence existed and thus no proceeds of crime.
ED's Allegations
The ED alleged that the transaction was a façade to route and legitimize tainted funds.
Legal Proceedings
Defense Argument
The defense relied on the Supreme Court's judgment in Vijay Madanlal Choudhary, stating that the money laundering case could not continue if the source of the proceeds of crime was cleared.
ED's Allegations
The ED initiated proceedings against DB Realty and Vinod Goenka, alleging their involvement in a sham real estate transaction.
Key facts
- Date
- July 28, 2026
- Court
- Bombay High Court
- Justice
- Justice Ashwin D. Bhobe
- Petitioners
- Vinod Goenka and DB Realty
- Alleged Proceeds of Crime
- Rs 5 crore
- Key Legal Reference
- Vijay Madanlal Choudhary
Quotes
Justice Ashwin D. Bhobe
Judge of the Bombay High Court
“"Considering that Accused No. 4 (M/s Parvesh Construction Pvt. Ltd.), from whom the petitioners are alleged to have received the proceeds of crime, has been discharged... no scheduled offence exists and consequently, no proceeds of crime…"”
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Sources
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