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2022 (6) TMI 220 - HC - CustomsSeeking grant of Bail - Smuggling - Gold Bars (Global Currency) - medium for exchange in criminal transactions or not - alleged commission of criminal conspiracy - terrorist activities - threatening the economic security and damaging the monetary stability of India as provided under Section 15(1) (a) (iiia) of UAP Act being a terrorist act punishable under Section 16 of the UAP Act - Scheduled offences or not - HELD THAT:- The amendment was made to the definition of “terrorist act” by bringing in facets of terrorist acts by disturbing the economic stability of the country. The said amendment has been made pursuant to the recommendations of the Financial Action Task Force (FATF). The said report claims that gold is a universally accepted currency, gold can be transferred anonymously and transactions are difficult to trace and verify. It was noted that gold is a form of global currency and also acts as a medium for exchange in criminal transactions. However, it may be noted that despite the fact that the report specifically deals with gold, the word ‘gold’ have not been added while amending Section 15(1)(a)(iiia) UAP Act. Further possession, use, production, transfer of counterfeit currency or coin is per-se illegal and an offence, however, production, possession, use etc. of ‘gold’ is not per-se illegal or an offence. Even import of gold is not prohibited but restricted subject to prescribed quantity on payment of duty. Thus mere smuggling of gold without any connection whatsoever to threatening economic security or monetary stability of India cannot be a terrorist act. It is evident that all the appellants except Dileep Laxman Patil and Vaibhav Sampat More are in custody since 21st September, 2020 and have spent more than 20 months in custody. The trial is likely to take some time, also for the reason that some of the appellants have filed petitions challenging the order granting sanction claiming that an alleged offence under the Customs Act cannot be brought in the realm of provisions of the UAP Act. This Court deems it fit to grant bail to the appellants. Consequently, appellants are directed to be released on bail on the terms and conditions imposed - application allowed.
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