2023 (9) TMI 661 - ORISSA HIGH COURT

Money Laundering - Justifiability of the issuance of NBW against the petitioners - no reasons given for such issuance - appellant entered into criminal conspiracy and committed criminal breach of trust, cheating, forgery etc. and invested the proceeds of crime generated thereby in assets standing in their names - HELD THAT:- No reason whatsoever was cited by the Court below to direct issuance of NBW. The reasons cited by Mr. Agarwal (opposite party) to justify issuance of NBW such as, gravity of the economic offences etc. have not been referred to by the Court below itself. To such extent therefore, the judgment of the Rajasthan High Court cited by Mr. Agarwal would have no application to the peculiar facts and circumstances obtaining in the present case.

This Court is of the view that given the absence of the accused persons and non-taking of the steps on their behalf, the Court below ought to have issued a bailable warrant of arrest since there is nothing on record to suggest that the accused persons have been deliberately avoiding to appear before the Court. The impugned order is thus rendered unsustainable in the eye of law warranting interference - Application allowed.