Kerala HC denies anticipatory bail to cashew dealer in ₹25 cr PMLA case

The Kerala High Court has rejected the anticipatory bail plea of cashew dealer Aneesh Babu, who is accused of laundering money and cheating several people of nearly ₹25 crore by promising to supply imported cashews.

Babu is named in five criminal cases under sections 120B, 406, 408, 409, 420, 465, 468, 471 and 34 of the Indian Penal Code (IPC), which include scheduled offences under the Prevention of Money Laundering Act (PMLA). Based on these cases, the Enforcement Directorate (ED) booked him for offences under Sections 3 and 4 of the PMLA.

Dr Justice Kauser Edappagath dismissed the bail plea, observing that a prima facie case of money laundering had been made out. The court said custodial interrogation was necessary, given the huge amount involved and the possibility of witnesses being influenced. The judge also noted that the investigation was at a crucial stage and that Babu was not cooperating.

According to the prosecution, Babu and others collected crores from complainants by claiming they would deliver cashews imported from Tanzania. In another case, Babu and his wife allegedly collected over ₹1 lakh by promising a job in Tanzania.

The Sessions Court earlier rejected his plea for pre-arrest bail.

Babu’s counsel argued that he was falsely implicated as retaliation for a corruption complaint he made against ED official Shekhar Kumar, in which he has been made an approver. He also contended that PMLA offences were not made out from the allegations.

The ASGI opposed the plea, citing sufficient material to prove Babu’s involvement. He argued that under Section 45(1) of PMLA, bail can be granted only if the court is satisfied that the accused is not guilty and unlikely to reoffend.

Background
Aneesh Babu has alleged that ED officials demanded a bribe to “settle” a case against him. Based on this allegation, the Vigilance and Anti-Corruption Bureau booked an ED officer and three others, one of whom was caught accepting a ₹2-lakh bribe as part of a trap.

But the ED denies the allegations, saying Babu is making false and shifting claims to derail the money laundering investigation. ED officials say he and his parents repeatedly evaded questioning, made contradictory statements to the media, and filed multiple bail pleas and petitions, all of which were dismissed by courts, including the Supreme Court. The agency says Babu began attacking ED officials only after these legal setbacks.
(With LiveLaw inputs)