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2024 (2) TMI 1380 - KERALA HIGH COURTSeeking grant of bail - Money Laundering - proceeds of crime - bail sought on medical grounds - Compliance with Section 45 of the Prevention of Money-Laundering Act, 2002 - the petitioner with deliberate intention tactfully layered the proceeds of crime to the third party entities as well as his educational trust, hiding the illicit origin without any economic rationale at the books of accounts of HCCPL - HELD THAT:- A careful perusal of the materials, including the statement of witnesses recorded under Section 50 of the Act and the other materials collected in the form of documents, prima facie shows complicity of the petitioner in the alleged offences. The conditions specified under Section 45 of the Act are mandatory while considering, the bail plea of the petitioner. This Court is required to be satisfied that there are reasonable grounds for believing that the petitioner is not guilty of such offence and he is not likely to commit any offence while on bail. As per Section 24 of the Act, in the case of a person charged with the offence of money-laundering under Section 3, the Authority/Court shall, unless the contrary is proved, presume that such proceeds of crime are involved in moneylaundering. The conditions enumerated in Section 45 of the Act are to be complied with even in respect of an application for bail under Section 439 Cr.PC in view of the overriding effect given to the Act over the other loss for the time being in force, under Section 71 of the Act. The Bail Application stands dismissed.
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