Explain mistakes: Punjab and Haryana High Court slams ED for ‘shoddy’ investigation in IREO case – Times of India

CHANDIGARH: The Punjab and Haryana High Court has termed the ED probe against IREO and its officials in money laundering cases as “shoddy and unprofessional” and asked the agency’s director to explain the lapses. HC took note of the fact that the property of the accused company was “easily disposed of”.
Justice Kuldeep Tiwari passed the orders after his bench’s attention was drawn to a November 6 order passed by a coordinate bench of HC in which one Gulshan Babbar approached HC seeking cancellation of bail of IREO MD Lalit Goyal in cases of money laundering and deception in a real estate project. .
HC asked the director of ED for the complete report of the ongoing investigation and asked him to file a personal statement explaining the reasons for the default, “in addition to the action proposed by him, in case there is any negligence on his part of its officials/officers”. Wing Commander Natarajan Monie (retd) had filed a PIL saying he had applied for a plot in Project IREO Waterfront in Ludhiana, but it was abandoned by the company directors in 2016 after allegedly diverting around Rs 300 crore and transferred.