Raghava Magunta Granted Bail in Delhi Excise Policy Case 

7 Jun, 2023 18:03 IST|Sakshi Post

New Delhi: The Delhi High Court granted bail to Raghava Magunta in a money laundering case related to the Delhi excise policy on Wednesday. 

Magunta had approached the High Court with a bail application stating that his grandmother was taken ill and he had to be by her side. The vacation bench of the high court approved his bail request. 

It may be recalled here that the officials of Directorate of Enforcement had arrested Magunta on February 10 this year under the Prevention of Money Laundering Act (PMLA). The ED has alleged that he was involved in various activities of possession, use, transfer, etc. of the proceeds of crime worth at least Rs 180 crore.

The probe agency had alleged that Magunta was one of the beneficiaries of the irregular formulation and implementation of the erstwhile Delhi excise policy and he was also a part of the ‘South Group’ which had paid about Rs 100 crore as ‘kickbacks’ in advance.

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