Delhi High Court
Pranjal Pandey vs State Of Nct Of Delhi on 23 July, 2025
Author: Neena Bansal Krishna
Bench: Neena Bansal Krishna
* IN THE HIGH COURT OF DELHI AT NEW DELHI
% Pronounced on: 23rd July, 2025
+ BAIL APPLN. 2323/2021, CRL.M.A. 22504/2023 CRL.M.(BAIL)
896/2021
PRANJAL PANDEY
S/o Mr. Pawan Kumar Pandey,
Aged 28 years,
R/o: D-26, 2nd Floor, Block. D,
Saket, New Delhi-1 10017.
Email: pranjal.rewa22@g,mail.com
.....Petitioner
Through: Mr. Dayan Krishnan, Sr. Advocate
with Mr. Aman Avinav and Mr.
Kumar Rishabh Parth, Advocates.
Versus
STATE OF NCT OF DELHI
(Economic Offences Wing)
Through its Standing Counsel (Criminal)
Chamber No. 437, Lawyers Chamber Block-I,
Delhi High Court, New Delhi-1 10003
.....Respondent
Through: Mr. Yudhvir Singh Chauhan Ld. APP
for State.
Mr. S.V. Raju, Ld. ASG, Mr. Zoheb
Hossain, Spl. Counsel, Mr. Vivek
Gurnani, Panel Counsel with Mr.
Kanishk Maurya, Mr. Harik
Sabharwal, Mr. Pranjal Tripathi, Mr.
Kunal Kochar and Mr. Siddharth
Kumar, Advocates and Mr. Mohit
Godara, ED(I.O).
ACP Keshav Mathur, Insp. Sanjay
Singh EOW, Mandir Marg.
BAIL APPLN. 2323/2021 Page 1 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53
CORAM:
HON'BLE MS. JUSTICE NEENA BANSAL KRISHNA
J U D G M E N T
NEENA BANSAL KRISHNA, J.
1. Bail Application under Section 438 of the Code of Criminal
Procedure, 1973 (hereinafter referred to as „Cr.P.C‘) has been filed on
behalf of the Applicant, Prabir Purkayastha seeking Anticipatory Bail in FIR
No. 116/2020 dated 26.08.2020 under Section 406/420/120-B of the Indian
Penal Code, 1860 (hereinafter referred to as „IPC‟) registered at Police
Station Economic Offences Wing, Delhi Police.
2. Based on the FIR, an Enforcement Case Information Report being
ECIR/14/HIU/2020 dated 2 September 2020 (“ECIR”) was recorded under
S. 3 and S. 4 of the Prevention of Money Laundering Act, 2002 (“PMLA”)
by the Directorate of Enforcement (“ED”). Basis the ECIR, the ED is
conducting a separate investigation in the matter and the Applicant has been
cooperating with the investigation initiated by the ED.
3. Briefly stated, the Applicant is an Indian citizen aged 28 years and is
the Director and Editor of PPK Newsclick Studio Pvt. Ltd (“PNSPL”) and
was appointed as an Additional Director of PNSPL on 12.03.2020.
Subsequently was appointed as a Directorof PNSPL on 30.092020.
4. The Applicant has been providing his services to PNSPL as an Editor
since 01.06.2016 and even after his appointment as a Director of PNSPL and
till date; the Applicant continues to be the editor of PNSPL and is not
involved in taking the major financial decisions of PNSPL.The Applicant
BAIL APPLN. 2323/2021 Page 2 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53
only looks into the news related functions of the PNSPL and is delinked
from the business affairs of PNSPL.
5. The Applicant is apprehending arrest in the FIR 116/2020 as he has
received a notice dated 30.06.2021 under S. 41-A of the Code of Criminal
Procedure, 1973 (“CrPC“), bearing no. 4540/R/ACP/Section-II/EOW from
the Respondent/EOW, calling upon the Applicant to appear before the
Investigation Officer on 9.07.2021 at 4 PM along with certain documents.
The Applicant is neither named in the FIR nor has any connection with the
subject matter of the FIR. Save for stating that there are reasonable grounds
to question the Applicant in connection with the matter, none of the grounds
as mentioned in S. 41-A Cr.P.C. have been mentioned in the S. 41-A Cr.P.C.
Notice issued to the Applicant by the Respondent/EOW.
6. The S. 41-A Notice was issued to the Applicant only after W.P.
(CRL.) 1130/2021 was filed on behalf PNSPL before this Hon’ble Court on
18.06.2021 praying for the quashing of the said FIR. By an order dated
21.06.2021, this Court issued notice and directed the matter to be listed on
29.07.2021 after directing the Respondent/EOW to file its counter affidavit
in four weeks.
7. W.P. (CRL.) No. 1129/2021 was heard by this Court on 21.06.2021
wherein this Court was pleased to issue notice in the matter and had directed
the ED to file its reply to the above Writ Petition within two weeks and had
directed that no coercive steps shall be taken against PNSPL and Mr.
Purkayastha till the next date of hearing i.e., 5 July 2021.
8. On 5 July, the matter was adjourned to 29 July 2021 and the order of
no-coercive steps was continued till said date. The Applicant understands
BAIL APPLN. 2323/2021 Page 3 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53
that the Respondent/EOW has also issued a notice under S. 41-A Cr.P.C to
the second Director of PNSPL i.e., Mr. Prabir Purkayastha for appearing
before the EOW on 07.07.2021 along with the documents.
9. The Applicant carries out work related to assigning of written and
video stories; day to day co-ordination of desk related work, final checks
and other similar issues. Further, the website and other social media
properties of PNSPL have frequently published articles/stories/videos, etc.
authored by the Applicant.
10. The Respondent/ EOW has issued the S. 41-A Notice to the Applicant
directing him to appear before the investigation officer on 09.07.2021 at 4
P.M. along with certain documents pertaining to details of Directors of
PNSPL, main business of PNSPL, the Applicant’s alleged dealing with
WMHL, persons involvedin the sale of shares to WMHL etc. The Applicant
has reasonable grounds to believe that he will be arrested by the
Respondent/EOW on 9 July 2021 when he appears beforethe
Respondent/EOW in compliance with the S. 41-A Cr.P.C Notice, not
withstanding his willingness to cooperate in the Investigation.
11. In February 2021, multiple search and seizure operations were carried
out by the ED under Section 17 of the PMLA at the residence of the
Applicant as well as the premises of various Employees, Directors,
Shareholders, and Contractors of PNSPL between 9 February 2021 and 13
February 2021. The search and seizure operations at the Applicant’s
premises were conducted on 9-10 February 2021. Various records (both
documentary and electronic) were seized from, the residential premises of
BAIL APPLN. 2323/2021 Page 4 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53
the Applicant situated at D-26, 2nd floor, Block D, Saket, New Delhi-
110017.
12. It was only during these raids that the Applicant came to know for the
first time that the ED had commenced an investigation under the PMLA in
respect of the affairs of PNSPL.
13. The Applicant has been cooperating with the investigation initiated by
the ED and undertakes to participate and fully cooperate in the investigation
by the Respondent/EOW. As mentioned above, the Applicant has received
summons dated 30 June 2021 from the EOW under Section 41A of the
Cr.P.C, 1908 directing him to be present before the EOW on 9 July 2021 at
4 P.M. along with documents furnishing details such as details of all
Directors of PNSPL, details setting out the main business of PNSPL, details
of the receipt of FDI from WWMH, details setting out other foreign
investments received from PNSPL etc. The Applicant undertakes to join the
Respondent/EOW’s investigation and furnish all relevant information.
14. The Applicant is a Director of PNSPL. As mentioned above, the
Applicant was appointed as a Director of PNSPL on 30 September 2020.
The Applicant is also the Editor of PNSPL. In his capacity as Editor, the
Applicant carries out work related to assigning of written and video stories,
day to day co-ordination of desk related work, final checks and other similar
issues. Further, the website and other social media properties of PNSPL
have frequently published articles/stories/videos, etc. authored by
Respondent No. 5. The Applicant has no role in the management of the
business affairs of PNSPL and only plays a supervisory role for ensuring the
proper and smooth functioning of the journalistic/content related work of the
BAIL APPLN. 2323/2021 Page 5 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53
company. The Applicant reiterates that he has received remuneration for the
services rendered as the Editor of PNSPL, in the normal course of business
and as a consideration for the services provided to the Applicant as per the
terms of the appointment letter issued to him by PNSPL.
15. The Anticipatory Bail is sought on the ground that the investigation of
EOW is a misuse of the process of law and has a chilling effect on the right
to freedom of speech and expression of the Applicant. In this regard,
reliance is placed on Arnab Manoranjan Goswami vs. The State of
Maharashtra (Criminal AppealNo. 742 of 2020) Apex Court in.
16. It is submitted that the FIR does not disclose commission of any
offence and the Applicant is not even named in the FIR. The allegations
levelled in the FIR do not disclose commission of any offence, much less
one under Sections 406, 420, 120B IPC.
17. Regardless, there is a legal bar on the registration of the FIR in the
facts of the instant case, at best, the allegations in the said FIR can amount to
violations under the FEMA, which cannot be investigated by the EOW, and
there being a legal bar in this regard. It is submitted that the provisions of
the FEMA and their interpretation by judicial opinion make it clear that such
a bar is absolute and violation of the samewill be fatal to any investigation.
18. The Applicant fulfils the Triple Test for grant of Bail. It has been held
in a catena of judgments that while dealing with the bail petition, it is not in
dispute that three factors must be seen viz. i) flight risk, ii) tampering
evidence iii) influencing witnesses. Pertinently, all the three factors are
satisfied qua the Applicant in the instant case. The Applicant is not evading
the process of law and there is no allegation of non-cooperation against the
BAIL APPLN. 2323/2021 Page 6 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53
Applicant. The Applicant has deep roots in the society and there is no
apprehension of the Applicant fleeing away from justice. There is also no
evidence that the Applicant has used his position to influence or intimidate
any witnesses.
19. The investigation into the FIR relates to FDI transactions in the year
2018 and is completely documentary in nature. The ED has also seized all
the relevant documentary evidence from the residence of the Applicant,
various other persons, and offices of PNSPL during extensive search and
seizure operations from 9.02.2021-13.02.2021.
20. It is further submitted that in the said FIR no allegations have been
made against the Applicant. Further, the Applicant has not even been named
as an accused in the said FIR. The only allegation that may be attributed to
the Applicant is that he is at present, a Director in PNSPL.
21. However, it is settled law that a Director of a Company cannot be
made vicariously liable for the Offence(s) committed by the Company
unless a specific role is attributed to such Director. In this regard reliance is
placed on a decision of the Apex Court in Sunil Bharti Mittal vs. CBI,
(2015) 4 SCC 609, and Maksud Saiyed vs. State of Gujrat & Ors., 2008 (5)
SCC 668.
22. No useful purpose would be served by remanding the Applicant to
custody. In this regard, the Applicant relies on the judgment of the Apex
Court in the case of Gurbaksh Singh Sibbia vs. State of Punjab, (1980) 2
SCC 565, which has been upheld in the case Sushila Aggarwal vs. State of
GNCTD, 2020 SCC OnLineSC 98.
BAIL APPLN. 2323/2021 Page 7 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53
23. Thus, it is prayed that the Anticipatory Bail be granted to the
Applicant.
24. The response to the Application has been filed by way of the
Status Report. It is stated that the case was registered on the complaint of
Sh. Sobhan Singh and was duly forwarded to the Under Secretary, MIB,
New Delhi. In the Complaint it was alleged that the Company M/s. PKK
News Click Studio Pvt. Ltd., is indulged in illegal misappropriation of fund
causing loss to Government ex-chequer.
25. The revenue of this Company has increased from Rs. 27.15 lakhs in
FY 2017-18 to Rs. 1.22 crore in FY 2018-19, however, the expenditure of
the Company has increased from Rs. 64.95 lakhs in FY 2017-18 to Rs. 7.83
crore in FY 2018-19. Hence, the Company has been incurring huge losses
varying from Rs. 17.8 lakhs in FY 2017-18 to Rs. 6.61 crore in FY 2018-19.
26. This Company received FDl of Rs. 9.59 crore from M/s Worldwide
Media Holdings LLC, USA during FY 2018-19 which was used for
allotment of 8,333 equity shares of Rs. 10 each at a premium of Rs. 11,510/-
per share as against allotment of shares of Rs. 10/- at face value only to the
Promoters. Apparently much higher than valued by RBI. The reason for
charging huge premium on allotment of share seems to deliberately avoid
the restriction/cap of FDI in the Digital News Website at 26% of the capital
of the Company as well as to avoid Government approval for such FDI.
27. If the shares were allotted to the foreign investor at the face value,
98% of total capital of the Company was to be allotted to the foreign
investor which was against the FDI policy of the Government for investment
in the Digital News Website.
BAIL APPLN. 2323/2021 Page 8 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53
28. The Investor Company M/s Worldwide Media Holdings LLC was
incorporated in the State of Delaware, USA giving address of a Chartered
Accountant and the Company was reported as cancelled due to non-payment
of tax as on 01.06.2017.
29. It shows that this Company had received FDI of Rs. 9.59 crore from
M/s Worldwide Media Holdings LLC after a gap of more than one year from
the date when the Company was cancelled. The reason for incurring such
huge losses was excessive payment of consultancy, salary and rent. For
example, salary/ Consultancy Fee of Rs. 3.82 crore and Rs. 1.12 crore
respectively were paid during FY 2018-19 even when the total revenue of
the Company was of Rs. 1.10 crore.
30. More than 45% of FDI was actually diverted/siphoned-off for the
payment of salary/consultation fees, rent and other such expenses of the
Promoters/Journalists/Employees associated with the Company. Prima
Facie these facts suggest that the FDI was actually intended to make the
payments for ulterior motives clandestinely. The above News Portal has
violated the FDI law and other laws of the country and caused loss of ex-
chequer. Accordingly, the present case was registered and investigation
initiated.
31. During the course of investigation, Reply from RBI has been received
where in it is mentioned that as per the Form FCGPR submitted, the foreign
inward remittance, was under automatic route and there was no delay in
issue of shares as well as reporting, as per the extant FEMA regulations in
case of M/s PPK New Click is concerned. Further, from scrutiny of accounts
BAIL APPLN. 2323/2021 Page 9 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53
of M/s PPK New Click it revealed that the account was opened on
13.02.2018.
32. Alleged money of FDI of Rs. 9.59 crores was transferred on
11.04.2018. Further, Fund from various foreign entities were received viz.
an amount of Rs. 23.51 crores from Justice Education Fund Inc. Of
America, Rs. 62.43 Lacs from The Tri-Continental Ltd. 912, Rs. 2.89 Lakh
from GSPAN, Rs. 2.0 Lakh from Centro Popular and Rs. 2.27 lakh from
Viva Salud. All these Companies transferred foreign fund into the account of
ICICl Bank of M/s PPK News Click till October 2020.
33. Further, stated Pranjal Pandey joined investigation on 09.07.21 and
submitted reply of queries. The documents are being verified from
Foreigners Division(FCRA), MHA Further, investigation is in progress.
34. In view of above facts and circumstances the Bail Application is
strongly opposed.
35. The Applicant by way of his Rejoinder to the Status Report has
reiterated his contentions and has stressed upon the fact that the Status report
records that the Applicant joined the investigation and submitted the reply to
queries. Further, the Reply of RBI received during the course of
investigation, solidifies the position that the FIR does not disclose any
offence or even a violation of FEMA.
Submissions heard and record perused.
36. Admittedly the cases got registered in 2020 but even in the predicate
offence, the investigations have not been concluded nor any Charge-Sheet
filed. No Complaint has got filed. There is also nothing on record to suggest
that the Applicant has been called since 2021 ever to join the investigations.
BAIL APPLN. 2323/2021 Page 10 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53
37. The Applicant is a Director/Editor of the Company and is responsible
for writing news articles and creating videos for the “newsclick.com”
platform of the company.
38. The evidence is essentially documentary in nature and there is no
likelihood of tampering with the evidence or of influencing the witnesses.
39. Considering the prolonged investigations, and in view of the aforesaid
circumstances, it is directed that in the event of arrest, the
Applicant/Accused shall be admitted to Anticipatory Bail by the
Investigating Officer/Arresting Officer, subject to be following conditions:-
(i) The Applicant/Accused shall furnish a personal bond in the
sum of Rs.25,000/- with one surety in the like amount to the
satisfaction of the Investigating Officer/Arresting Officer.
(ii) The Petitioner/Accused shall join the investigations, as and
when called by the Investigating Officer and shall co-operate
during the investigations.
(iii) The Applicant/Accused shall furnish his cellphone number to
the Investigating Officer on which he may be contacted at any
time and shall ensure that the number is kept active and
switched-on at all times.
(iv) The Applicant/Accused shall not contact, nor visit, nor offer
any inducement, threat or promise to any of the prosecution
witnesses or other persons acquainted with the facts of case.
(v) The Applicant/Accused shall not tamper with evidence nor
otherwise indulge in any act or omission that is unlawful or that
would prejudice the proceedings in the pending trial.
BAIL APPLN. 2323/2021 Page 11 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53
40. The Petition stands disposed of in the above terms. The Pending
Application, if any, also stands disposed of.
41. Copy of the Order be sent to the learned Trial Court for compliance.
(NEENA BANSAL KRISHNA)
JUDGE
JULY 23, 2025/RS
BAIL APPLN. 2323/2021 Page 12 of 12
Signature Not Verified
Signed By:RITA
SHARMA
Signing Date:23.07.2025
20:56:53