2023 (1) TMI 744 - HC - PMLA
Seeking grant of bail - Money Laundering - proceeds of crime - collection of funds under false promises of exorbitant high rate of interest on the deposits - HELD THAT:- Primarily delay in trial is attributable to the accused. Though the complaint was filed in the year 2018. The trial court could deliver the copies under Section 207 of the Cr.P.C only on 22nd March, 2022 to the accused. Prosecution cannot be blamed for causing delay in conducting ML Case No.2 of 2018.
It is also not out of place to mention that the petitioner is involved in money laundering of huge sum of money amounting to Rs.1750 crores (approximately). He has already siphoned out a sum of Rs.6666 crores which are proceeds of crime. The Enforcement Directorate has also produced reports and documents as to how the petitioner tried to coerce the present director of M/s Chocolate Group of Hotels for extortion of money and wrongful gain. Repayment process by the High Court constituted Asset Disposal Committee has been going on.
The benefit of Section 436A of the Code of Criminal Procedure cannot be granted - Prayer for bail of the accused Goutam Kundu is, thus, considered and rejected.