Omkar Realtors & Developers' promoters discharged in money laundering false case filed by ED

Omkar Realtors & Developers Chairman Mr Kamal Gupta and Mr Babulal Varma- Managing Director Omkar Realtors & Developers, were discharged from the case filed against them by the Enforcement Directorate (ED). The special court formed under the Prevention of Money Laundering Act, chaired by Special Judge MG Deshpande, quashed the case against the two by stating the recent Supreme Court ruling that described that a scheduled offence or a predicate offence refers to the base case where the accused has made monetary gains by illegal means. Adding to his judgement, the judge added that there was no scheduled offence and that the continuation of the case would be nothing but a futile exercise.