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2018 (8) TMI 364 - HC - Money LaunderingOffense under Prevention of Money Laundering Act - Held that:- The allegations against the petitioner are of having received cash to the tune of ₹1,52,50,000/- in various Branches at Delhi and Mumbai withdrawn from various companies of SBL group in cash and thereafter by rotating it through various shell companies received the money in RAG Buildtech owned by his son, shares whereof were then inflated and from the money infused in RAG Buildtech various properties, movable and immovable, were purchased. Charge-sheet for offence punishable under Sections 13(1)(d) read with Section 13(2) of the PC Act is yet to be filed by the CBI. As per the mandate of Section 44 of PMLA, the trial in the scheduled offence and the complaint filed by the respondent is to be conducted jointly. Co-accused Gagan Dhawan has been granted bail by the learned ASJ on the ground that the case is based on documentary evidence and all the bank transactions are recorded which cannot be erased or tampered with by the influence of Gagan Dhawan and the Enforcement Directorate has already attached the plot of Gagan Dhawan worth ₹1.17 crores situated in Gurgaon and that he remained in custody for 62 days. Offence defined under Section 3 and punishable under Section 4 PMLA entails a minimum punishment for 3 years imprisonment which may extend to 7 years imprisonment. The petitioner is in custody since 12th January, 2018. The petitioner is directed to be released on bail on his furnishing a personal bond in the sum of ₹2,00,000/- with two surety bonds of the like amount, subject to the satisfaction of the Trial Court and further subject to the condition that:- (i) the petitioner will not leave country without prior permission of the Court concerned; (ii) in case of change of residential address the same will be intimated to the Court concerned by way of an affidavit; and (iii) the petitioner will not directly or indirectly influence the witnesses or interfere in the further investigation.
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