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2021 (2) TMI 1234 - HC - Money LaunderingSeeking grant of anticipatory bail - illegal unregulated collective investment scheme by collecting deposits from public, without the approval of RBI/SEBI or any government agency, under the name board of "Real Estate Business" - laundering the ill-gotten wealth which is acquired by duping the lakhs of gullible public in the guise of real estate business - HELD THAT:- In the instant case, major part of the investigation has been completed and the Chairman and other Directors of the Company were granted bails and in most of the cases, the conditions imposed against the Directors while granting bail were relaxed. Though the respondent authorities have registered the case in the year 2018, a notice was issued for the first time in the year 2020 and that the petitioner has been cooperating with the authorities and attending before them along with required information as and when called for. The delay in issuing the notice after two years has not been properly explained by the respondent authorities - the application for anticipatory bail in case of P. CHIDAMBARAM VERSUS DIRECTORATE OF ENFORCEMENT [2019 (9) TMI 286 - SUPREME COURT], which was relied upon by the learned Counsel for the respondent authorities, was rejected on merits of the allegations and other materials and hence, the facts and circumstances of that case are entirely different from the facts of the present case. Since the petitioner has been regularly attending before the respondent authorities as and when called for and cooperating with the investigation by furnishing required information; the main accused have already been arrested and their custodial interrogation has already been done by the respondent authorities; major part of the investigation has already been completed and the properties worth ₹ 4109.13 Crores have already been attached, the custodial interrogation of the present petitioner is not required. In such circumstances, granting anticipatory bail to the petitioner on certain conditions is justifiable. The petitioner is directed to surrender before the Assistant Director, Directorate of Enforcement, Hyderabad, within a period of fifteen days from today, and on such surrender, he shall be released on bail on -his executing a personal bond to the tune of ₹ 5,00,000/- with two sureties each to the like amount to his satisfaction - The petitioner is granted anticipatory bail on the terms and conditions imposed - application allowed.
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