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2023 (12) TMI 1293 - HC - Money LaunderingSeeking grant of bail - money laundering - applicant and other accused persons in conspiracy with the office bearers of the housing societies have purchased the land which had already been sold to the members - HELD THAT:- So far as the role of this applicant is concerned, he got executed the sale-deed of Rs.2,00,00,000/- by issuing four cheques of Rs.50 – 50 Lacs and out of said four cheques, three were bounced and one cheque of amount of Rs.50 Lacs was transferred and that too in the forged account in the name of society. Thereafter, he took loan of Rs.10 Crores by mortgaging the said land from Allahabad Bank which he invested in C-21 Mall, Bhopal thus, he got benefited to the tune of Rs.8.63 Crores. It is submitted that this is the only case registered against the applicant. He is ready to appear in the trial Court to get the regular bail. It is directed that in the event of arrest, the applicant – Keshav Nachani shall be released upon his furnishing personal bond in the sum of Rs.5,00,000/- with one surety in the like amount to the satisfaction of the arresting officer. This order shall be governed by the conditions No.1 to 3 of sub-Section (2) of section 438 Cr.P.C. The applicant shall also co-operate with the investigation. Application allowed.
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