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2022 (11) TMI 1150 - SCH - Money LaunderingGrant of bail - Smuggling - Gold - diversion of 54 Kgs of primary gold which was imported by the appellant through the canalizing Agency-Metals & Minerals Trading Corporation (MMTC) - predicate or scheduled offence - HELD THAT:- It appears that the appellant was admitted to regular bail in connection with the aforesaid offences punishable under the provisions of Customs Act vide order dated 28.08.2018. Upon registration of the proceedings by the Enforcement Directorate on 03.02.2021, the appellant came to be arrested in said PMLA case on 28.11.2021 and has since then been in custody - The fact of the matter is that for an offence where the maximum sentence could be punishable with imprisonment for seven years, the appellant has undergone custody for about a year. It further appears that the investigation is still pending and the matter is not ripe for trial on merits before the appropriate Court. The appellant shall be produced before the concerned Court within three days and the concerned Court shall release the appellant on bail subject to such conditions as the Court may deem it appropriate to impose - Petition allowed.
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