Mumbai, July 22 -- The Bombay High Court has granted bail to Nashik resident Seraj Memon, who has been in judicial custody since December 12, 2024, in connection with an alleged Malegaon money laundering case. The court observed that the trial has not yet commenced and is unlikely to conclude in the near future, holding that prolonged incarceration was sufficient ground for granting bail.
The case is being investigated by the Enforcement Directorate, which alleges that Memon played a significant role in handling financial transactions through a network of bank accounts that were allegedly used for laundering proceeds of crime. According to the agency, the transactions under investigation involve approximately Rs 157.78 crore.
The Enforcem...