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2019 (11) TMI 1702 - HC - Money LaunderingSeeking enlargement on bail - Money Laundering - Hawala Transaction - Remittance of Indian Currency to abroad by submitting forged bills of entries - HELD THAT:- In the case at hand, the applicant in connivance with Anil Chokhara, remitted funds amounting to ₹ 137,80,28,114.38 on account of advance import and deliberately did not submit import documents to the bank and as such, managed to siphon of huge amount totalling to ₹ 518,23,59,962/- to foreign shores in the guise of import. Hence, when seriousness of offence was of such magnitude, mere fact that accused is in jail since 17th March, 2019 is in consequential. Parity is claimed by relying on the order dated 4th August, 2017 whereby co-accused has been released on bail by this Court. In my view, reliance is misplaced. When the co-accused was released, this applicant was absconding, and proclaimed offender - Evidence on record, prima-facie, shows that the applicant floated number of companies/firms and has generated huge funds which he managed through various bank accounts of the bogus companies, outside the company. So also, applicant was not available for investigation for considerable period. His conduct, therefore, cannot be overlooked. Yet investigation is in progress. Possibility of feelling the country, cannot be ruled out, in the back-drop of this conduct. There are no reasonable grounds for believing that the applicant/accused is not guilty of often punishable under Section 4 of the PML Act, 2002. Conduct of the accused is relevant factor while recording the satisfaction whether he is likely to commit offence if released on bail.. In this case, the applicant-accused was declared proclaimed offender and was not available for investigation for considerable period. Possibility cannot be ruled out that accused/applicant may also tamper with the evidence of the prosecution. Application deserves no consideration - application dismissed.
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