TMI Blog2020 (12) TMI 616X X X X Extracts X X X X X X X X Extracts X X X X ..... he fact that for the same property, indulgence have been shown by the appellate tribunal dealing with the fact and issue, it is provided that in case an application for anticipatory bail is moved by the petitioner within a period of ten days from today then the same may be considered and decided expeditiously by the Special Judge, PML Act in accordance with law and till the decision taken on the application for anticipatory bail of the petitioner, no coercive measure shall be taken against the petitioner - the Special Judge, PML Act shall decide the application for anticipatory bail of the petitioner expeditiously and the petitioner undertakes not to take any unnecessary adjournment and nor shall grant any unnecessary adjournments. Petit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls of Exchange, bills of lading for dishonestly inducing the bank of purchase the export bills out of the limits sanctioned. 4. It is the case of the prosecuting agency that Irshad Alam in his capacity as an authorized signatory used to sign cheques for making withdrawals from the accounts of all firms. All the accounts were managed by his father late Shri Abdul Hamed and his elder brother Mehtab Alam(petitioner) and the blank cheques were given to the father as well as the petitioner who were withdrawing money from the bank and approximately 56 crores was released from the Allahabad Bank, OBC, BOI and BOB as foreign bill purchase and a substantial amount was adjusted against the packing credit limit of the firms. 5. It has further be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the PML Act to prove that he is not involved in money laundering and in absence of any statement or clarification to the charges, the Investigating Agency has filed the chargesheet against the petitioner presuming that the property has been created by him out of the proceeds of crime and as such they have acted totally within the four corners of law according to the statutory scheme provided in the PML Act and that there is no infirmity with the impugned orders. 8. The main plank of the prosecution is that the confessional statement of Irshad Alam who stated that his brother Mehtab Alam purchased various land in Kanpur and Koltkata either on the name of himself or on the name of his relatives and even funds from the bank are diverted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egard to property built in Agra, the petitioner has challenged the aforesaid proceedings before the appellate authority under Section 26 of the PML Act and by means of an order dated 06.05.2019, an interim protection of status quo was passed and the said order is existing even today. 12. Learned counsel for petitioner submits that in light of the fact that a limited protection has already been granted with regard to the same controversy where the same property is involved by the same prosecuting agency and vide order dated 13.05.2019 Appellate Tribunal, Prevention of Money Laundering Act, New Delhi has directed that status quo be maintained with respect of the notices issued U/S 8(4) of PML Act. 13. It has been urged by learned counse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g prearrest bail order including limiting the operation of the order in relation to a period of time if the circumstances so warrant, more particularly the stage at which the anticipatory bail application is moved, namely, whether the same is at the stage before the FIR is filed or at the stage when the FIR is filed and the investigation is in progress or at the stage when the investigation is complete and the charge sheet is filed. However, as observed hereinabove, the normal rule should be not to limit the order in relation to a period of time. The petitioner has full right and liberty to move an appropriate application for grant of anticipatory bail. 1 6 . In light of the fact that for the same property, indulgence have been sh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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