Jignesh Bhajiawala in four-day ED custody

Ahmedabad: A local court on Saturday granted custody of Jignesh Bhajiawala, son of Surat-based financier Kishore Bhajiawala, to investigating agency – Enforcement Directorate (ED) for four days in connection with case of money laundering lodged against him.
Jignesh was arrested under Prevention of Money Laundering Act (PMLA) for allegedly converting old currency to new illegally.ED had then moved remand plea seeking 10 days’ remand of the accused stating that Rs 1.02 crore, all in Rs 2,000 currency notes, was found from his possession. Pressing the reasons for remand, ED stated that source of Rs 27 lakh was found but source of rest of the amount remains untraceable.
The agency also argued that Jignesh has not been cooperating with the probe and hence 10-days remand should be granted. After hearing the arguments, court granted four-days remand and fixed further hearing on January 25.