Supreme Court upheld the Delhi High Court's decision to grant bail to Preeti Chandra, the wife of Unitech promoter Sanjay Chandra, in a money laundering case probed by the Enforcement Directorate (ED). 

The bench, led by Chief Justice DY Chandrachud, along with Justices JB Pardiwala and Manoj Misra, directed Chandra to remain within the National Capital Region (NCR) and report to the Investigating Officer every two weeks. The court acknowledged the copious evidence against her but considered the time spent in custody and her gender as deciding factors for granting bail.

The Additional Solicitor General representing the ED argued against granting bail to Chandra, citing ample evidence, luxury car transfers abroad, and allegations of running a parallel office in jail. Justice Pardiwala acknowledged the evidence against her but also expressed concern over the substantial time already spent in custody and her gender, which influenced the decision.

Chief Justice DY Chandrachud noted that the court would not interfere with the High Court's discretion in granting bail and revealed the uncovering of financial transactions to the Cayman Islands due to their previous order.

The Supreme Court directed Preeti Chandra to adhere to additional conditions along with those imposed by the High Court, including not leaving the NCR, reporting to the Investigating Officer regularly, and obtaining specific permission before disposing of any property.

Senior Advocate Kapil Sibal, representing Chandra, brought attention to the Delhi High Court's directive to relinquish her citizenship of the Dominican Republic. The Supreme Court ordered her to comply with the order and apply for Indian citizenship, thereby avoiding statelessness.

The money laundering case against Preeti Chandra and others stemmed from complaints by homebuyers against the Unitech Group and its promoters, alleging illegal diversion of funds to Cyprus and the Cayman Islands.

The ED accused Preeti Chandra of receiving Rs. 107 crores in her company "Prakausli Investments Private Limited" as proceeds of crime, but she failed to disclose the ultimate usage of the amount.

Previously denied bail by the trial court, Preeti Chandra's release was now permitted after the Supreme Court's ruling, considering the time spent in custody and gender as relevant factors.

Overall, the Supreme Court's verdict upheld the Delhi High Court's decision to grant bail to Preeti Chandra in the money laundering case, subject to additional conditions and directives.

Case Title: Directorate of Enforcements vs Preeti Chandra - Supreme Court Affirms Bail in Money Laundering Case

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