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2022 (8) TMI 1054 - HC - Money LaunderingSeeking grant of Bail - money laundering - foreign outwards remittances - admissibility of statements of accused - admissible evidences or not - twin conditions as contemplated under Section 45 of PML Act, satisfied or not - HELD THAT:- Insofar as the twin conditions as contemplated under Section 45 of PML Act, the Hon'ble Supreme Court of India repeatedly held in many cases that the duty of the Court is to examine the jurisdictional facts including the mandate of Section 45 of the PML Act, which must be kept in mind. Even post Nikesh Tavachand Shah Vs. Union of Idia & anr. case [2017 (11) TMI 1336 - SUPREME COURT], the Section 45 of the PML Act saw amendment vide from 19.04.2018. After effecting amendment to Section 45(1) of the PML Act, the words “under this Act” are read to sub Section (1) of Section 45 of the PML Act. On a comparative reading of Section 45(1) of the PML Act, pre-amendment and post-amendment, as could be observed, original sub-Section 45(1)(ii) is neither revived or resurrected by the amending Act. The notification dated 29.03.2018 is silent about its retrospective applicability - Therefore, the legislature has not withdrawn the twin conditions from Section 45 of the PML Act, though in the case of Nikesh Tavachand Shah Vs. Union of Idia & anr., the Hon'ble Supreme Court of India has struck down the same as being unconstitutional. Therefore, the twin conditions under Section 45 of the PML Act still remain in the Statute book. The Hon'ble Supreme Court of India has directed the concerned Court to hear the matters on merits, without application of the twin conclusion contained in Section 45 of the Act, as declared as unconstitutional. But the twin conditions still continue. The amendment Act of 2018 which introduces the expression “under this Act” to Section 45 of the PML Act, in no uncertain terms can obliterate or dilute the direction issued by the Hon'ble Supreme Court of India - the twin conditions as contemplated under Section 45(1) of the amendment Act have to satisfy not withstanding of the judgment of the Hon'ble Supreme Court of India in the case of Nikesh Tavachand Shah Vs. Union of Idia & anr. That apart, during investigation it was found that the material evidence against the petitioner in carrying out the offence of money laundering in the matter of sending the proceeds of crime to the tune of Rs.59.47 crores to the undisclosed beneficial owner and end use at Hong Kong. Therefore, prosecution will be able to marshal all the evidence during the course of trial. Therefore, analysis of jargons like 'preponderance of probabilities' and 'beyond reasonable doubts' has no basis at the initial stage. Now the petitioner is facing trial for the commission of offence under Section 4 of PMLA. Further, this Court dismissed the earlier bail petition only on 24.06.2022 and there is no change of circumstances to consider the present bail petition - Petition dismissed.
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