The case involves a criminal revision application filed by Sanjay Kumar Agarwal against an order dismissing his discharge petition in connection with ECIR Case No. 05 of 2021, registered under Sections 3 and 4 of the Prevention of Money Laundering Act (PMLA), 2002. The prosecution alleges that Agarwal, while serving as an Interim Resolution Professional (IRP), demanded a bribe from Amit Sarawgi, Director of M/s Adi Ispat (P) Limited, for showing leniency in the insolvency resolution process. A trap was set, and Agarwal was allegedly caught accepting a portion of the demanded bribe. The CBI filed a charge-sheet under Section 7 of the Prevention of Corruption Act, leading to the PMLA case.
Sanjay Kumar Agarwal, an Insolvency Professional, is accused of demanding a bribe from Amit Sarawgi, Director of M/s Adi Ispat (P) Limited. Sarawgi alleged that Agarwal demanded Rs. 2,00,000 per month for showing leniency in the insolvency resolution process and Rs. 20,00,000 for a favorable forensic audit report. Agarwal allegedly offered Sarawgi the opportunity to participate in an auction proceeding if his demands were met. A trap was set by the CBI, and Agarwal was allegedly caught accepting Rs. 3,00,000 as part of the bribe on 11.02.2020. The CBI filed a charge-sheet under Section 7 of the Prevention of Corruption Act, and a complaint was lodged under the PMLA. Agarwal filed a discharge petition, which was dismissed, leading to the current criminal revision
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NCLT, Kolkata Bench passed orders for Corporate…
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The case involves a criminal revision application filed by Sanjay Kumar Agarwal against an order dismissing his discharge petition in connection with ECIR Case No. 05 of 2021, registered under Sections 3 and 4 of the Prevention of Money Laundering Act (PMLA), 2002. The prosecution alleges that Agarwal, while serving as an Interim Resolution Professional (IRP), demanded a bribe from Amit Sarawgi, Director of M/s Adi Ispat (P) Limited, for showing leniency in the insolvency resolution process. A trap was set, and Agarwal was allegedly caught accepting a portion of the demanded bribe. The CBI filed a charge-sheet under Section 7 of the Prevention of Corruption Act, leading to the PMLA case.
Sanjay Kumar Agarwal, an Insolvency Professional, is accused of demanding a bribe from Amit Sarawgi, Director of M/s Adi Ispat (P) Limited. Sarawgi alleged that Agarwal demanded Rs. 2,00,000 per month for showing leniency in the insolvency resolution process and Rs. 20,00,000 for a favorable forensic audit report. Agarwal allegedly offered Sarawgi the opportunity to participate in an auction proceeding if his demands were met. A trap was set by the CBI, and Agarwal was allegedly caught accepting Rs. 3,00,000 as part of the bribe on 11.02.2020. The CBI filed a charge-sheet under Section 7 of the Prevention of Corruption Act, and a complaint was lodged under the PMLA. Agarwal filed a discharge petition, which was dismissed, leading to the current criminal revision
…NCLT, Kolkata Bench passed orders for Corporate…
Public announcement of…