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* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 23.03.2026 Judgment pronounced on: 30.03.2026 + BAIL APPLN. 1537/2025 & CRL.M.A. 12022/2025 BARINDER KAUR .....Petitioner Through: Mr. Sachin Puri, Senior Advocate with Mr. Arshdeep Singh Khurana, Mr. Akash Gahlot and Ms. Shruti Gupta, Advocates versus DIRECTORATE OF ENFORCEMENT .....Respondent Through: Mr. Vivek Gurnani, Panel Counsel with Mr. Kartik Sabharwal, Mr. Chinmay Panigrahi and Mr. Kanishk Maurya, Advocates.

CORAM:

HON'BLE MR. JUSTICE GIRISH KATHPALIA

J U D G M E N T

1. The accused/applicant seeks anticipatory bail in case ECIR/03/DLZO/ 2016 of the Directorate of Enforcement (DoE) for offence under Sections

3&4 of the Prevention of Money Laundering Act (PMLA).

1.1 For the first time, this anticipatory bail application came up before me on 22.04.2025 and for reasons mentioned in the said order, the accused/applicant was granted interim protection from arrest till next date. However, by way of order dated 09.05.2025, the request of the Bail Application 1537/2025 Page 1 of 20 pages GIRISH Digitaly signed by GIRISH KATHPALIA DN: c=IN, o=HIGH COURT OF DELHI, Signature Not Verified 2.5.4.20=8401dd889b27a77b2f65fe4afec45569af3962c6fb4

835d435f97626cacca, ou=HIGH COURT OF DELHI,CID -

KATHPALIA 7 se 0 r 4 ia 7 l 6 N 3 u 8 m , p b o e s r t = a d lC 3 o e d 8 e 6 = 79 1 6 1 4 0 5 0 1 0 e 3 c , 4 st 5 = c D 07 e b lh 5 i, d 15570996b40f80cbd Digitally Signed 2eee60402c487965f801e26fa, cn=GIRISH KATHPALIA Date: 2026.03.30 12:57:38 -07'00'

accused/applicant for continuance of interim protection was declined for the reasons mentioned in that order, though it was directed that since the accused/applicant at the time of passing that order was sitting in the office of DoE for interrogation, on the same day she shall not be arrested.

1.2 Thereafter, on account of change of Roster, this anticipatory bail application got listed before a coordinate bench of this Court where it remained pending for a few dates.

1.3 Finally, this anticipatory bail application was again assigned to this bench on 23.03.2026, on which date final arguments were heard and concluded, reserving the matter for orders.

2. I have heard learned senior counsel for accused/applicant and learned counsel for DoE, both of whom took me through records.

3. Broadly speaking, the circumstances relevant for present purposes as culled out of records are as follows.

3.1 On 19.02.2014, Central Bureau of Investigation (CBI) registered a case RCBD1/2014/E/0004 dated 19.02.2014 for offence under Section 120B and 420 IPC (hereinafter referred to as “the predicate offence”) for causing loss to the Government of India. After completion of investigation, chargesheet under Section 173(2) CrPC was filed on 07.04.2016 against Mr. Nirmal Singh Bhangoo (now deceased), his firms M/s Pearl Agrotech Corporation Ltd. (hereinafter referred to as “PACL”), M/s Pearl Golden Bail Application 1537/2025 Page 2 of 20 pages GIRISH Digitaly signed by GIRISH KATHPALIA DN: c=IN, o=HIGH COURT OF DELHI, KATHPALIA p se o r s ia ta lN lC u o m d b e= er 1 = 1 d 0 3 0 e 0 8 3 6 , 7 st 9 = 6 D 4 e 5 l 1 h e i, c 45c07b5d15570996b40f80cbd2e Digitally Signed e D e a 6 te 0 : 4 2 0 0 2 2 c 6 4 . 8 0 7 3 9 .3 6 0 5 f 12 8 : 0 5 1 7 e :5 2 7 6 f - a 0 , 7 c '0 n 0 = ' GIRISH KATHPALIA Forest Limited (hereinafter referred to as “PGFL”) and their Promoters and Directors namely Mr. Sukhdev Singh, Mr. Gurmeet Singh and Mr. Subrata Bhattacharya.

3.2 In the chargesheet of the predicate offence, the CBI alleged that PACL and PGFL through their illegal and fraudulent activities had collected more than Rs.48000 crores by way of investment schemes under the garb of sale and development of agricultural land across the country. Mr. Nirmal Singh Bhangoo being Managing Director of PGFL since its incorporation in 1983 and also being the officer in control of the day to day business activities of PACL since its incorporation in 1996 was prime accused, besides the remaining Directo