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2014 (9) TMI 1281 - SC - Money LaunderingMoney Laundering - Embezzlement of huge funds from the Exchange - irregularities in the allotment of shares of NMCE to NOL, including misuse/misappropriation of Exchange funds - Misuse of Exchange funds - Illegal payments from NMCE to his family members and other - HELD THAT:- It is informed that the petitioner evaded arrest from 26-4-2012 to 30-3-2013. His son, who is one of the main accused, is refusing to join investigation. The petitioner made a statement that his son will return to India to join investigation and this statement was recorded by the High Court in its order dated 30-7-2013. But till date, the assurance given to the High Court is not fulfilled. Even this Court had directed the petitioner to facilitate his son's coming back to India to join investigation, however, there is no positive response from the petitioner. His approach is evasive. There is no doubt that his purpose is to shield his son. The petitioner is, therefore, in breach of the condition imposed on him while granting provisional bail that he will cooperate with the investigating agency. The provisional bail was granted to him with the hope that the petitioner will cooperate with the Police. His conduct is to the contrary. The provisional bail, therefore, deserves to be cancelled and is accordingly cancelled. His bail bond stands cancelled. The High Court has rightly declined bail to the petitioner. In our opinion, it is not necessary to interfere with the impugned order. Therefore, the Special Leave Petition is dismissed.
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