The Kerala High Court has refused to grant anticipatory bail to cashew businessman Aneesh Babu in a money laundering case, observing that the large volume of funds involved and the nature of allegations made his custodial interrogation necessary.
Justice Kauser Edappagath noted that Babu is accused of cheating several individuals by promising to supply cashews and offering job opportunities, through which he allegedly collected a total of ₹25.52 crore. According to the Enforcement Directorate (ED), the amounts received were “proceeds of crime” and were subsequently used for money laundering.
Citing details from the investigation, the court recorded that ₹2.03 crore was credited to Babu’s bank account by complainants, but the money was not transferred abroad for import purposes as he had claimed. “Therefore, a prima facie case of money laundering has been made out,” the court said.
Justice Edappagath observed that the probe was at a “crucial stage” and the material on record did not permit a finding that Babu was not guilty at this point. “Undoubtedly, the investigating agency may require further time to collect all the materials, particularly the alleged nexus of the applicant with the crimes,” the order stated. “The amount involved is huge. The custodial interrogation of the applicant appears to be necessary.”
The court also accepted the ED’s submission that granting pre-arrest bail could lead to interference with the investigation or influence over witnesses.
“I see no reason to exercise the jurisdiction vested with this court under Section 482 (anticipatory bail) of the Bharatiya Nagarik Suraksha Sanhita (BNSS). Accordingly, the bail application is dismissed,” the court concluded.
In his plea, Babu claimed he was being falsely implicated as a “counterblast” to a Vigilance and Anti-Corruption Bureau (VACB) case registered against an ED officer based on his complaint. The VACB had in May booked an Assistant Director of the ED’s Kochi office after Babu alleged that private individuals demanded ₹2 crore to “settle” a March 2021 money laundering case against him.
