A Delhi Court today sent CC Thampi to an additional three days of ED custody in connection with a money laundering case.
Thampi was arrested on January 17 following the discovery of violation of foreign exchange rules up to Rs. 1000 crores, and given 3 days of ED custody. At the expiry of the period, he was produced at the Rouse Avenue Court for extension of custody.
Advocate Amit Mahajan, appearing for the Directorate of Enforcement, said the accused is not at fault, but the nature of the investigation is such, that the process has been slow.
He further added, that the investigation dates back to 2009 and there are more names that the ED would want to summon, but presently, the names should stay undisclosed.
Thampi’s counsel argued that his client’s health is deteriorating and they have previously complied with summons notices; there should be no need for an extension of ED custody.
Mahajan referred to a Delhi High Court judgement which permitted additional time for investigation. He also stated that the duration of custody has to be determined on a case to case basis.
Thampi is also accused of being involved in several defence deals and it is learnt that he owns several illegal properties in India and UAE. It may be recalled that Thampi’s name had also cropped up in a case related to London-based property of Robert Vadra. He is being probed for alleged forex violations of over several thousand crores and other charges.
Thampi, a Dubai-based NRI is the controller of Skylight Investments, FZE, Dubai and owner of Holiday Group. Its website says the Holiday group is involved in infrastructure, international trading, manufacturing, tourism, hospitality and media sectors.
— India Legal Bureau