The High Court has stayed the bail granted to Nihal Vadakkencherry Nazer (also known as Nihal V. N. or Nihal Rak) in an ongoing money‑laundering case registered by the Goa Enforcement Directorate concerning more than ₹3.96 crore.
On Wednesday, the High Court issued an ad‑interim ex parte stay of the release order that the North Goa Special PMLA Court had passed a day earlier. The High Court directed that the accused shall not be released from judicial custody pending further hearing and issued a notice returnable on August 28, 2026.
The Enforcement Directorate, represented by Deputy Solicitor General of India Adv. Pravin Faldessai and Special Public Prosecutor Adv. Siddharth Samant, filed an urgent petition challenging the Special PMLA Court’s August 18 order granting bail to Nihal V.N. The central agency contended that the accused played a direct role in an offence involving an aggregate sum exceeding ₹3.96 crore and that the mandatory twin conditions under the PMLA were not satisfied.
The ED further argued that the investigation remains active and that releasing the accused would jeopardize the probe.
Considering the seriousness of the allegations and the risk of irreversible prejudice should the accused be released, the High Court granted ad‑interim relief and stayed the operation and execution of the bail order.