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2021 (3) TMI 962 - HC - Money LaunderingSeeking grant of Anticipatory Bail - transit bail - fake and fraudulent transactions - breach of conditions of agreements entered into for sale of land to poor people or employees - Economic Offences - HELD THAT:- Reliance placed in the case of P. CHIDAMBARAM [2019 (9) TMI 286 - SUPREME COURT] where it was held that in a case like a Economic Offences, the Court should not grant anticipatory bail and if the anticipatory bail is granted, the investigation may be frustrated. In view of the judgment of the Hon’ble Supreme Court, the alleged offence though non-bailable, the same is punishable with 7 years of imprisonment and even under PML Act, the punishment is 7 years, but the alleged offences committed amounts to cheating and fraudulent transaction from initial stage. They planned and prepared documents dealing with sale and M/s. SDL acted as seller and buyer of the properties and almost more than ₹ 200 Crores of fake transactions said to have been created by the petitioner and therefore, the alleged offence is nothing but an economic offence which obstructs the development of the State and the Country. The petitioner is not entitled for any anticipatory bail from this Court - Criminal petition dismissed.
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