Home Case Index All Cases Money Laundering Money Laundering + DSC Money Laundering - 2022 (3) TMI DSC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (3) TMI 331 - CITY CIVIL AND SESSIONS COURT, MUMBAIRemand Application for the purpose of investigation under the provisions of the Prevention of Money Laundering Act, 2002 - designated as a Global Terrorist by United Nations under United Nations Security Resolution 1267 and also listed under the Fourth Schedule of the UAPA Act, 1967 - accused alleged to be running international terrorist network, which is involved in various terrorist/criminal syndicate, money laundering, circulation of FICN, unauthorized possession/acquisition of key assets for raising terror funds and is working in active collaboration with international terrorist organization. HELD THAT:- As per section 3, the offence of money laundering is continuing in nature and it continues till such time a person enjoying the proceeds of crime by its concealment or possession or acquisition or use of untainted property or use or projecting the same as untainted property. Prima facie, there is material to indicate that the accused is in possession of the said property. Therefore, the submission advanced by the ld. Senior Counsel for the accused that no offence is made out against the accused under section 3 of the PMLA, cannot be accepted. Prima facie, an Assistant Director, on the basis of material in his possession, has reason to believe that the accused has committed an offence under section 3 of the PMLA. Arrest order indicates that grounds of arrest are communicated to the accused. It seems that there is substantial compliance under section 19 of the PMLA. Therefore, I am not inclined to accept the submissions advanced on behalf of the ld. Counsel for the accused that accused is illegally arrested. It appears from the report that accused has not cooperated with the investigation on the crucial aspect. Prima facie, there are reasonable grounds to believe that the accusations are well-founded under PMLA. The investigation is at the nascent stage - the custodial interrogation of the accused is necessary to unearth all the ramifications involved in the crime. It is imperative to note that custodial interrogation of the accused is necessary to collect seized, recovered documents at the instance of the accused. The proceeds of crime has traversed since last 20 years and more. Therefore, sufficient time is required to be granted for the investigation of the offence. Accused Mohammed Nawab Mohammed Islam Malik @ Nawab Malik is remanded in the custody of Enforcement Directorate till 03.03.2022.
|