Hyderabad Court Denies Bail to MD

07 Nov 2024 CW Team

The Hyderabad Prevention of Money Laundering Act (PMLA) court has denied bail to the Managing Director of Sahiti Infratec Ventures India Pvt Ltd, in connection with an ongoing money laundering investigation. The court ruled against the bail application after examining the evidence presented by the Enforcement Directorate (ED), which is investigating the financial irregularities and alleged laundering activities linked to the company.

Sahiti Infratec Ventures is involved in the construction and infrastructure sector, and the investigation revolves around alleged financial misconduct, including the diversion of funds and the use of shell companies to launder money. The ED has been probing the company and its executives for their involvement in money laundering activities under the provisions of the PMLA.

In its argument, the Enforcement Directorate stated that the MD, along with other company officials, played a central role in the fraudulent activities and that granting bail could hamper the investigation. The accused had been arrested earlier due to concerns that he might influence witnesses or tamper with evidence during the ongoing probe.

Legal experts have noted that this decision reflects the court's stance on the severity of financial crimes and its commitment to ensuring the integrity of investigations under the PMLA. The case has attracted significant attention as it highlights the increasing scrutiny of financial crimes in India, particularly in the corporate sector.

The denial of bail means that the MD will remain in custody as the investigation continues, and further legal proceedings are expected in the coming weeks.

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..