The Delhi High Court on Monday dismissed a plea by journalist and founder of The Quint Raghav Bahl seeking quashing of the Enforcement Directorate (ED) investigation into a money laundering case against him. .Justice Jasmeet Singh also refused to quash the Look Out Circular (LOC) issued against Bahl. The Court noted that the allegations against him are yet to reach the stage of trial and whether there has been generation of proceeds of crime is still being investigated. "The petition as regards the quashing of ECIR is premature and is hereby rejected," the Court ordered. .On the issue of the LOC, the judge said that the allegations against Bahl are with regard to compromising the economic interests of India, and therefore, quashing it at this stage will be premature.The Court, however, added that if Bahl needs to travel abroad for work or any other genuine reason, his right will not be curtailed, and that he could file an appropriate application for the same.Justice Singh also recorded an undertaking by Bahl that he will cooperate with the investigation..The ED case arose from action initiated by the Income Tax (IT) department against Bahl alleging non-disclosure of funds used for purchase of assets in London. The IT department had alleged irregularities in the income tax returns filed by Bahl filed for the year 2018-19.Based on the same, it had initiated action against Bahl under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act of 2015. This led to the money laundering case against Bahl by the ED under the Prevention of Money Laundering Act (PMLA)..During the hearing today, Advocate Abhimanyu Bhandari appeared for Bahl and argued the money was sent to London to buy a property, but there was no evasion of tax and hence no proceeds of crime generated, which is a sine qua non for initiation of proceedings under the PMLA. Bhandari said that the IT department had not found even a rupee of tax evaded after carrying out an assessment.Advocate Zoheb Hossain, appearing for the ED, stated that the matter was argued before the Allahabad High Court which dismissed the plea and even an appeal against the order has been rejected by the Supreme Court. .After hearing the arguments, the Court rejected the plea. However, it said that it will hear the plea by Ritu Kapur (Bahl's wife) in March.Kapur has also approached the Court seeking quashing of ED's investigation. It is her argument that she is not even an accused under the Black Money Act.