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2023 (6) TMI 1005 - HC - Money LaunderingMoney Laundering - alleged collection of huge amount of money from the public by M/s. Fine Indisales Private Limited and of misappropriation thereof - HELD THAT:- The Court below could have issued a bailable warrant at that stage if it was not inclined to grant time or had any reason to believe that the Petitioners were avoiding appearance, but directing issuance of N.B.Ws. straight away cannot at all be held to be justified in the facts and circumstances of the case. It is stated that the Petitioners were engaged in marketing jobs at different places of Raipur and Mumbai and therefore, could not personally appear. This is a reasonable explanation for non-appearance, which ought to have been considered by the Court below. Even the fact that the Petitioners were never arrested during investigation and prosecution does not allege that they had not cooperated with the investigating agency, does not seem to have been considered by the Court at all. Therefore, there seems to be no justified reason to take coercive steps against the Petitioners for their appearance. This Court is strongly persuaded to hold that the impugned order in so far as it relates to the direction for issuance of N.B.W. cannot be sustained in the eye or law - Petition allowed.
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