9911796707
TMI Blog2020 (9) TMI 741X X X X Extracts X X X X X X X X Extracts X X X X ..... complaint received from the Central Vigilance Commission, New Delhi with the allegations that fraudulent high value forex outward remittances/transactions exceeding Rs. 3500 crores taken place in the current accounts opened at Syndicate Bank, Armenian Street Branch, Chennai. Further alleged that M/s.Astral Exim & Co., is the sole proprietorship concerned of one Mohammed Sammy, who opened a distinct current account with the Syndicate Bank, Armenian Street Branch, Chennai, by producing false documents. Through the said account, the account holder made foreign outward remittances to the tune of Rs. 14.87 crores on 24 different occasions towards advance remittances for import of goods. On verification it was found that there was no imports and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also filed final report before the trial Court and the same has been taken cognizance in C.C.No.26 of 2019. The trial Court also issued summons to the petitioner and he has appeared before the trial Court. He needs necessary assistance from his counsel for which he has to instruct properly. Since he has been incarcerated imprisonment from the date of arrest, he could not instruct the counsel properly for effective trial. He would further submit that the petitioner was arrested and remanded to judicial custody from 04.07.2019 and he did not commit any offence under the PMLA. Therefore the custodial interrogation of the petitioner would not serve any purpose and hence he sought for bail to the petitioner. 3.1. The learned counsel appearing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sidential address. These outward remittances made without making corresponding imports into the domestic tariff area and without disclosing the beneficial owners inside the country and outside the country and end-use of the proceeds of crime in the other country. Therefore, the petitioner committed the offence under Section 3 of PMLA as such, he is liable to be punished under Section 4 of PMLA. He further submitted that this Court already dismissed the bail application on two occasions and hence he prayed for dismissal of the bail petition. 5. Heard Mr.M.Sathish Kumar, learned counsel appearing for the petitioner, and Mr.S.Karthikeyan, Additional Public Prosecutor appearing for the respondent police. 6. The petitioner was arrested and rem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dering the bail application of the appellant herein what is to be taken note is that, at a stage when the appellant was before this Court in an application seeking for interim protection/ anticipatory bail, this Court while considering the matter in Criminal Appeal No.1340/2019 had in that regard held that in a matter of present nature wherein grave economic offence is alleged, custodial interrogation as contended would be necessary and in that circumstance the anticipatory bail was rejected. Subsequently the appellant has been taken into custody and has been interrogated and for the said purpose the appellant was available in custody in this case from 16.10.2019 onwards. It is, however, contended on behalf of the respondent that the witnes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... already held to be not a 'flight risk' and there is no possibility of tampering the evidence or influencing\intimidating the witnesses. Taking these and all other facts and circumstances including the duration of custody into consideration the appellant in our considered view is entitled to be granted bail. It is made clear that the observations contained touching upon the merits either in the order of the High Court or in this order shall not be construed as an opinion expressed on merits and all contentions are left open to be considered during the course of trial." In the above case the Hon'ble Supreme Court of India considered various aspects in the bail petition and also observed that availability of the appellant for further inv ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
