A Delhi court has extended the Enforcement Directorate’s custody of Partha Sarathi Biswal, Managing Director of Biswal Tradelink Pvt. Ltd. (BTPL), by 6 more days in connection with a fake bank guarantee scam.
Biswal was arrested by the ED on August 1 under the Prevention of Money Laundering Act (PMLA), 2002, for allegedly issuing ₹68 crore worth of fake bank guarantees through his firm to a Reliance Group company.
The case is linked to forged documents provided to the Solar Energy Corporation of India Limited in return for commission from Reliance Power Limited.
ED Seeks More Time To Examine Digital Evidence
Additional Sessions Judge Kiran Gupta of the Patiala House Court extended Biswal’s custody till August 12, allowing ED to confront him with new digital evidence. The accused was produced before the court on August 6 following the expiry of his initial four-day remand.
“Since the accused is required to be confronted with the data of the phone and voluminous digital data, the ED remand of the accused is extended for a period of six days. Let the accused be produced before the court on 12.08.2025,” Judge Gupta stated.
ED Alleges Non-Cooperation, Discovery of Incriminating Evidence
Special Public Prosecutors Manish Jain and Simon Benjamin, representing the ED, argued for further custody citing Biswal’s evasive responses during questioning. They told the court that his statement under Section 50 of PMLA had been recorded and that he had been examined on various aspects including the modus operandi of the alleged scam, utilisation of proceeds of crime, and suspicious bank transactions.
According to the ED, during the initial remand period, Biswal was confronted with data extracted from his mobile device, which led to the discovery of “various incriminating evidence.” The agency further maintained that the accused must be questioned further with respect to the voluminous digital records retrieved, which could reveal critical information related to alleged money laundering.
Defence Opposes Further Custody
Biswal’s defence counsel opposed the extension, arguing that the accused had cooperated fully during the investigation and that all necessary documents were already in the ED’s possession. They contended that no further custodial interrogation was required.
However, the court sided with the prosecution, noting the need to confront Biswal with the large volume of digital evidence recovered.
The case remains under investigation, with Biswal now scheduled to be produced again on August 12.
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