A Delhi sessions court has yesterday declined to grant bail for now to T&T Law managing partner Rohit Tandon, who was arrested last week and stands accused as one of the main conspirators in trying to launder Rs 60 crore in demonetised cash, according to the Hindustan Times and the PTI.

Enforcement directorate (ED) counsel Vikas Garg opposed Tandon’s bail plea before sessions judge RK Tripathi, arguing that Tandon had conspired with Delhi Kotak Mahindra bank manager Ashish Kumar, and that the bail application had been wrongly moved under section 439 (special powers of high court or sessions court regarding bail) of the CrPC and not under the Prevention of Money Laundering Act (PMLA).

Tandon’s counsel argued that his arrest was illegal and no prima facie offence under the PMLA had been made out.

The court set 7 January as the next date for continuing arguments.

Tandon was represented by senior advocate Mohit Mathur several days ago, while his alleged co-conspirator Parasmal Lodha, a Kolkata businessman in real estate, was represented by senior counsel Rebecca John, according to a PTI report of 2 January.

Mathur had argued that Tandon was suffering from thyroid issues and hypertension and required suitable medication.

Tandon had been arrested after raids on his offices allegedly revealed more than Rs 13 crore of cash, following his income tax declaration of Rs 125 crores of previously undisclosed income.