A special court designated under the Prevention of Money Laundering Act (PMLA) granted actor-producer Sachin Joshi bail on March 7. He was arrested by the Enforcement Directorate in February last year in a money laundering case involving Yes Bank and Omkar Group of companies.
The prosecution had alleged that a part of the amount borrowed by the Omkar group was laundered with the help of Sachin’s firms. On the other hand, Sachin claimed that the group had used his brand value and services to evict slum-dwellers in different projects, for which he had received money by way of consideration. The court observed that no prima facie case of money laundering was made out against Sachin Joshi.
Sachin Joshi was on temporary bail on medical grounds when he filed the bail application on merits. He was released from jail on March 7.