Corporate lobbyist Deepak Talwar posted bond in case of illegal foreign financing
NEW DELHI: On Friday, a special court released a corporate lobbyist on bail in a money laundering case related to the illegal receipt of foreign funds.
Upon hearing the declaration of bail through videoconference, the CBI special judge granted him the relief of a personal bond of Rs 5 lakh with a guarantee of the same amount. I am of the opinion that additional custody of the accused will be of no use. The complaint has already been filed; the co-defendants who were arrested are on provisional bail. on record to suggest that he ever tried to alter evidence or influence witnesses, the court noted.
Presenting for Talwar, Lead Counsel N Hariharan and Counsel argued that the co-defendant in the case has already received provisional bail. They also argued that the maximum punishment attracted for crimes against Talwar is seven years.
In granting bail, the court placed several riders. Talwar, who is also charged in an alleged aviation scam case, has been asked not to leave NCT Delhi without intimidating the investigating officer. You will not leave the country without proper court permission. You will need to deposit your passport with the IO or the court if you have not already deposited it, the court said.
ED claimed that Talwar, as president of the registered company, i.e.M/s Advantage India received a foreign contribution during 2012-2013 to 2015-2016 in the amount of Rs 90.72 crore from M/s Airbus S.A. to Paris, France and M/s, United Kingdom: companies dedicated to aeronautics and missile manufacturing. The funds were received under the label of corporate social responsibility. However, the funds were not used for the mandatory purposes. The CBI registered a case based on a complaint of violations under the Foreign Contribution Act (Regulation) of 2010 and other crimes, including criminal conspiracy. The ED, on the basis of the CBI case, registered a money laundering case against Talwar. Talwar is alleged to have conspired a criminal conspiracy to divert funds received through foreign donors for non-mandatory purposes by recording the expenses on the society's books through the use of falsified documents.
According to ED, M/s Advantage India received a total of Rs 90 crore and the money was diverted through various channels.