Home Case Index All Cases Money Laundering Money Laundering + HC Money Laundering - 2023 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (8) TMI 1240 - HC - Money LaunderingMoney Laundering - proceeds of crime - huge fund diversion from the Company, which is managed by the Directors, to its subsidiaries and related entities and made investments - HELD THAT:- In the instant case, the statements made by the petitioners under Section 50 of PMLA indicate the possible commission of offence under Section 3 of PMLA. The charge sheet has also not been filed in the instant ase. Above all, in view of the statements made by the petitioners indicating their nexus with the first accused Company, there was a possibility that they could be involved in the management of the company, which possibility requires to be established through the proceeds of a full fledged trial. The scope of the powers of the Court to quash the complaint under Section 482 Cr.P.C. has been time and again dealt by the Hon'ble Supreme Court, in a catena of decisions, by holding that such powers requires to be exercised in the rarest of rare cases, the exceptions to which have been repeatedly pointed out. In the case of STATE OF HARYANA VERSUS BHAJAN LAL [1990 (11) TMI 386 - SUPREME COURT], some of the exceptions for quashing the complaint under Section 482 Cr.P.C. held that Where a criminal proceeding is manifestly attended with mala fide and/or where the proceeding is maliciously instituted with an ulterior motive for wreaking vengeance on the accused and with a view to spite him due to private and personal grudge. In a recent decision of the Hon'ble Supreme Court in ANOOP BARTARIA & ETC. VERSUS DY. DIRECTOR ENFORCEMENT DIRECTORATE & ANR. [2023 (5) TMI 102 - SUPREME COURT], the dictum in Bhajan Lal's case was followed and by pointing out that the case involved therein, did not fall under any of the exceptions pointed out in Bhajan Lal's case and in view of the material to show prima facie involvement of the accused for the offence of money laudering, the Supreme Court had refused to quash the complaint. Thus, the material on record does make out a prima facie case to implicate the petitioners for the offence of money laundering, as contemplated under PMLA - there are no reason to entertain the prayer sought for in the present petition. Petition dismissed.
|