HC issues notice to ED on bail plea of Conman Sukesh’s aide Pinki Irani

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New Delhi, Jan 19 | The Delhi High Court on Wednesday issued notice to the Enforcement Directorate on the bail application of Pinki Irani, who is allegedly an aide of multimillionaire conman Sukesh Chandrasekhar, in connection with a Rs 200 crore money laundering case.

Earlier this month, a trial court had denied granting bail to the accused.

Issuing notice to the ED, Justice Mukta Gupta listed the matter for further hearing on February 14.

Irani, a resident of Mumbai, was arrested in December last year by the ED and also confronted with Sukesh Chandrasekhar inside the Tihar Jail. She is the ninth person held in the case. Those who were earlier arrested are Pradeep Ramdanee, B. Mohan Raj, Deepak Ramnani, Arun Muthu, Kamlesh Kothari, Avatar Singh Kochhar, Sukesh Chandrashekhar, and his wife Leena Maria Paul.

Advocate Yoginder Handoo, appearing for Pinki Irani argued that since November 25, his client is under the 24×7 watch of the Enforcement officials, in Claridges Hotel and Park Hotel and was officially arrested on December 9, 2021. The allegations of violation of provisions of Prevention of Money Laundering Act (PMLA) against the applicant are misconceived on facts and untenable in law, which the trial court has failed to appreciate and does not make out any case on facts and law against the applicant under the provisions of PMLA, he submitted.

The plea also contended that the grounds of arrest and the accusations against her were never communicated to the applicant and otherwise could not be comprehended without a copy of the complaint already filed by the Enforcement Directorate.

The allegations against the applicant are on the face of it vague and rollover even though the applicant continues to be in custody, it said.

Bollywood actress Jacqueline Fernandez and Nora Fatehi have recorded their statement as a witness in the case. Pinky Irani was the one who introduced Sukesh to Jacqueline. According to the first charge sheet filed by ED, it was Pinky who used to select luxury gifts for Jacqueline, and once the payment was made by Sukesh, she used to collect it from the gift centre to hand it over to Jacqueline.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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