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2022 (2) TMI 1303 - BOMBAY HIGH COURTSeeking grant of bail - money laundering - proceeds of crime - illegal obtaining of money and diversion o foreign countries - some profit sharing accounts were made and the money was paid to the persons who were neither connected with the Topsgrup nor with the MMRDA - twin conditions of section 45 of PMLA satisfied or not - HELD THAT:- The definition of "offence of money laundering" also mentions that the accused who knowingly assists or knowingly is a party or is actually involved in any process or activity connected with the proceeds of crime including its concealment, or possession, or acquisition, or use, or projecting or claiming it as untainted property, is said to have committed the offence. In this case, the proceeds of crime were received from MMRDA. It was projected as if it was legally acquired and then it was utilized for the personal benefits of Rahul Nanda and his family. Thus, his act clearly falls within the definition of 'offence of money laundering'. The material shows that the applicant had done it knowingly. It would be beyond logic, reason and propriety that the arrested accused would have to remain in jail as an under-trial prisoner till all the absconding accused are arrested, though he cannot be granted bail because of the restrictions under Section 45 of the PMLA. Said explanation does not indicate even remotely that Shri Mor's, advocate for applicant, submission in that behalf is acceptable. The bail application is rejected.
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