Home Case Index All Cases Indian Laws Indian Laws + HC Indian Laws - 2023 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (1) TMI 1299 - HC - Indian LawsMoney Laundering - proceeds of crime - under-reporting of money transferred abroad which does not generate proceeds of crime which is sine qua non for proceedings under the Prevention of Money Laundering Act (PMLA) - HELD THAT:- The petitioner is seeking quashing of ECIR and according to the Supreme Court in Kirit Shrimankar vs U.O.I [2014 (12) TMI 150 - SUPREME COURT] has held that a writ remedy on account of issuance of summons at the stage of investigation/enquiry is highly premature. There is no violation of any fundamental right or even legal right of the petitioner warranting interference of this Hon'ble Court at the stage of summons - In addition, there are allegations in the complaint u/s 51 regarding evasion of tax. The allegations are being investigated. Whether there is generation of proceeds of crime or not is being investigated and for the aforesaid reasons, the petition as of today is premature. The prayer for quashing of LoC at this stage again will be premature and hence is rejected. However, the petitioner has travelled in the past and needs to travel for his work. The liberty of the petitioner to travel abroad for the purpose of business cannot be curtailed. Petition dismissed.
|