2024 (6) TMI 1440 - SCH - Money Laundering

Money Laundering - proceeds of crime - acquisition and possession of assets disproportionate to known sources of income by the Petitioner and his wife and other family members - applicability of Section 45 read with Section 44 of the PML Act - it was held by High Court that the proceedings under the PMLA are maintainable a prima facie case is established and the anticipatory bail is not warranted. HELD THAT - Issue notice returnable on 29th July 2024. In the meanwhile the petitioner shall not be arrested in connection with Complaint Case (PMLA) No .11 of 2022 arising out of ECIR No. ECIR/BBZO/01/2019 dated 22nd January 2019 at Bhubaneswar Sub-Zonal Office of Enforcement Directorate pending before the District and Sessions Judge-cum-Special Judge(PMLA) Khurda at Bhubaneswar subject to condition that within two weeks from today the petitioner shall appear before the Special Court and furnish bonds for appearance in accordance with Section 88 of the Code of Criminal Procedure 1973.

Summary

The Supreme Court of India, presided over by Hon'ble Mr. Justice Abhay S. Oka and Hon'ble Mr. Justice Rajesh Bindal (Vacation Bench), addressed a petition where the petitioner was represented by Mr. SS Ray and others, with no appearance for the respondent. The Court condoned the delay and issued a notice returnable on 29th July, 2024. Crucially, the Court ordered that the petitioner "shall not be arrested" in relation to Complaint Case (PMLA) No. 11 of 2022, linked to ECIR No. ECIR/BBZO/01/2019, pending before the District and Sessions Judge-cum-Special Judge (PMLA) in Khurda at Bhubaneswar. This protection is contingent upon the petitioner appearing before the Special Court within two weeks and furnishing bonds for appearance as per Section 88 of the Code of Criminal Procedure, 1973.