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2018 (12) TMI 1879 - HC - Money LaunderingGrant of Bail - Money laundering - predicate offences - matter having international ramifications - bogus purchase of software - HELD THAT:- Applicant was arrested in predicate offence, and, subsequently, he was granted bail. Investigation in respect to PMLA, had been assigned to respondents before the applicant was granted bail. It appears that the respondents have continued with investigation and collected evidence against the applicant. The complaint gives filed by the respondents alleges that applicant had played a major role in money laundering. The complaint details as to how the applicant and other accused are involved in the present case. The contention of the applicant is that he is not concerned with the companies allegedly involved in the transactions - There is prima facie material to show the involvement of the applicant in siphoning off the proceeds of crime showing tainted amount, as untainted. It is also observed that this is a serious matter having international ramifications. The offence is economic offence is involving public money and the applicant has played vital role in laundering money. Bail cannot be granted - bail application rejected.
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