New Delhi [India], May 18 (ANI): Businessman Robert Vadra on Monday withdrew his petition before the Delhi High Court challenging the trial court order taking cognisance of the Enforcement Directorate's (ED) chargesheet in the Shikohpur land deal-linked money laundering case.

The matter came up before Justice Manoj Jain, where Advocate Prateek Chaddha, appearing for Vadra, informed the Court that the plea was being withdrawn unconditionally. Recording the submission, the High Court permitted withdrawal of the petition.

Vadra's plea had challenged the trial court's order taking cognisance of the ED chargesheet filed under the Prevention of Money Laundering Act (PMLA).

During the earlier hearing, Senior Advocate Abhishek Manu Singhvi, appearing for Vadra, had argued that the alleged predicate offences pertained to the period between 2008 and 2012, while some of those offences were added to the schedule of the PMLA only subsequently.

Singhvi had contended that allegations relating to conspiracy, cheating, forgery and corruption arising out of the land transactions could not be retrospectively brought within the scope of the money laundering law. He described the issue as a 'jurisdictional threshold objection' and argued that accepting such an interpretation would effectively allow decades-old transactions to be treated as continuing money laundering offences.

The ED had opposed the plea, with Advocate Zoheb Hossain submitting that the petition was based on an incorrect interpretation of the law. He argued that several of the offences referred to by Vadra's side were already part of the statutory framework and that the challenge lacked merit.

During the previous proceedings, the High Court had observed that the trial court had merely passed an initial order taking cognisance and noted that all legal objections could also be raised before the trial court during the course of proceedings.

The case stems from the ED's probe into a February 2008 land transaction involving Skylight Hospitality Pvt Ltd, a company in which Vadra was previously a director.

According to the ED, the company purchased nearly 3.5 acres of land in Shikohpur for around Rs 7.5 crore and later sold the property to DLF in 2012 for Rs 58 crore after a substantial increase in value.

The agency has alleged that the transaction formed part of a larger scheme involving proceeds of crime and undue benefits in relation to mutation and development permissions granted for the land.

On Saturday, Vadra had appeared before the Rouse Avenue Court pursuant to a summons issued in the matter and was granted bail. Speaking outside the court, Vadra had stated that he had 'nothing to hide' and would continue to cooperate with the investigation while expressing faith in the judicial system. (ANI)