Recently, the Supreme Court grants bail to Basant Bansal and Pankaj Bansal, directors of Gurugram-based realty group M3M, in a money laundering case.

A division bench of Justices A S Bopanna and Sanjay Kumar, which had previously reserved its verdict on September 11 after listening to arguments presented by the lawyers, has now granted the verdict.

The Bansals approaches the Supreme Court challenging the decision of the Punjab and Haryana High Court, which had rejected their bail petitions in a ruling issued on July 20th.

Earlier, Both the directs were taken into custody by the Enforcement Directorate as part of a money laundering investigation connected to an alleged bribery case.

The top court on August 11 had sought responses from the Centre and the Enforcement Directorate on the bail plea of the accused directors against the high court order refusing to release them on bail in the ED’s probe linked to an alleged bribery case against a former judge.

The money laundering case that led to the arrest of Basant Bansal and Pankaj Bansal is related to an FIR (First Information Report) filed by the anti-corruption bureau of the Haryana Police in April. This FIR involves Sudhir Parmar, a former special judge for cases handled by the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) who was stationed in Panchkula. Additionally, the FIR also names Sudhir Parmar's nephew and a third director of the M3M group, Roop Kumar Bansal.

The ED has said it has collected “incriminating evidence such as bank statements and money trail, etc.” with respect to the allegations in the FIR before making the arrests.