Court suspends travel order amidst PMLA probe due to evasion concerns.

The court suspended the Trial Court's order allowing a respondent to travel abroad for medical treatment amidst a PMLA investigation. Concerns were raised about potential evasion due to substantial foreign property holdings and alleged involvement in diverting funds for personal gain. The petitioner highlighted threats made by the respondent's brother and fear of non-cooperation by company directors. The court issued a notice to the respondent for a future hearing and temporarily halted the travel permission, considering the risk of the respondent not returning to India for further investigation.

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Issues:
1. Challenge to the order permitting the respondent to travel abroad for medical treatment amidst ongoing investigation under the Prevention of Money Laundering Act (PMLA).

Analysis:
The petitioner challenged the order allowing the respondent to travel abroad for medical treatment while facing investigation under the PMLA. The petitioner contended that the respondent, as the Chairman Emeritus of Alchemist Group, controlled funds diverted for personal gain. Evidence suggested the respondent's association with various entities and assets acquired from proceeds of crime. Allegations indicated the respondent and family members benefited from laundered funds through accused companies. The petitioner argued that despite pending investigation and risk of evasion, the Trial Court mechanically granted travel permission. Concerns were raised about the respondent's potential escape, given substantial property holdings abroad and the magnitude of the alleged fraud amounting to approximately Rs.1900 Crores.

The petitioner highlighted the respondent's brother's anticipatory bail application, alleging threats made by the respondent. Directors of companies also expressed fear of non-cooperation due to threats. The petitioner emphasized the risk of the respondent not returning to India for further investigation, citing extensive property ownership in the USA. The petitioner urged the court to prevent the respondent from traveling abroad under the guise of prostate cancer treatment. Consequently, the court issued notice to the respondent for a future hearing and suspended the Trial Court's order permitting travel until the next hearing date.

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