Delhi Court Grants Bail to Jitesh Gupta in Money Laundering Case

The Rouse Avenue Court in Delhi has granted regular bail to insolvency professional Jitesh Gupta, attributing a ₹40.75 lakh amount as below the statutory threshold under the PMLA. The court found Gupta had no connection with the scheduled offence, supporting the bail decision with substantial documentary evidence.

The Rouse Avenue Court in Delhi has released Jitesh Gupta, an insolvency professional, on regular bail in connection with a money laundering case. The court ruled that Gupta's alleged proceeds of crime at ₹40.75 lakh were beneath the ₹1 crore statutory threshold defined in the Prevention of Money Laundering Act (PMLA).

Special Judge Arun Sukhija issued the order on September 9, recognizing that Gupta had no connection with the scheduled offence, a fact acknowledged by the Enforcement Directorate (ED). The court highlighted that documentary material, rather than statements under Section 50 of the PMLA, held greater weight in the bail decision.

While Gupta's alleged amount was substantially below the statutory threshold, the court observed that, unlike in similar cases, he had no involvement in the predicate offence. Consequently, his bail plea was accepted, with conditions such as surrendering his passport, as the investigation by the ED continues.