The Supreme Court on Monday sought a response from the Enforcement Directorate on a plea filed by the main promoter of a Noida-based real estate company seeking bail in a money laundering case involving the alleged diversion of home buyers’ funds worth Rs 126.30 crore. A bench comprising Chief Justice of India Surya Kant and Justices Joymalya Bagchi and V Mohana issued notice to the agency on a plea filed by Anil Mithas challenging the rejection of his bail plea by the Allahabad High Court.
The high court on September 16 had rejected the bail plea of Mithas. “White-collar crime has grown too pervasive and too costly to be met with anything less than firm, uncompromising enforcement. Corporate fraud, embezzlement, insider trading, and large-scale financial deception routinely destroy pensions, savings, and livelihoods on a scale that dwarfs the damage caused by many street crimes, yet offenders have often faced comparatively lenient sentences, fines their companies can absorb as a cost of doing business, or plea deals that avoid real accountability,” the high court had said in its order.