Setback for ED; SC rejects plea seeking cancellation of Bineesh Kodiyeri’s bail

NEW DELHI: The Supreme Court Friday rejected Enforcement Directorate's plea seeking cancellation of Bineesh Kodiyeri's bail. The court observed that the requirement of ED is not necessary in the present situation. The decision was taken by a bench comprising of Justices B R Gavai and Sandeep Mehta on the plea filed by the deputy director of ED in Bengaluru.

The ED interrogated Bineesh Kodiyeri last week in the case of violating Foreign Exchange Act. The grilling lasted from 11 am to 8 pm. When asked about the interrogation, Bineesh's response was ‘ask ED’. The questioning was related to the transactions made by some companies in which Bineesh had a stake. The ED's investigation was based on the information that some companies received money in the form of shares and investments, including from abroad, in violation of the law.

The Karnataka High Court granted bail to Bineesh Kodiyeri in October 2021. The ED deputy director approached the Supreme Court seeking cancellation of this order. The Supreme Court stated that Bineesh has been on bail for four years and hence the demand cannot be accepted.

Advocates G Prakash and M L Jishnu, who appeared for Bineesh, informed the Supreme Court that they have approached the Karnataka High Court requesting to quash the case. Both pointed out that the high court has not stayed the further proceedings against Binish. The lawyers also told the court that ED has not filed an appeal against the stay. Following that, the ED’s plea was rejected. The petition of ED was then rejected. Additional Solicitor General K M Nataraj appeared for the ED deputy director.