TMI Blog2022 (3) TMI 987X X X X Extracts X X X X X X X X Extracts X X X X ..... for committing offence under the Act of 2002 and amount involved is more than ₹ 39 Crores. Considering the entire facts and circumstances of case, nature of allegations levelled against applicants; rulings relied upon by learned counsel for both sides, this is not found to be a fit case where applicants can be enlarged on anticipatory bail - bail application is rejected. - MCRC (A) No. 1624 of 2021 - - - Dated:- 18-2-2022 - HON'BLE MR. JUSTICE PARTH PRATEEM SAHU For Applicant : Mr. Chirag Madan along with Mr. Krishna Tandon, Mr. Vipin Sharma, Mr. Somesh Tiwari, Mr. Utsav Saxena, Ms. Vidula Mehrotra, Advocates. For Non-applicant : Dr. Saurabh Kumar Pande, Advocate with Mr. Anil S Pandey, Advocate CAV Order 1. This is first application under Section 438 of CrPC for grant of anticipatory bail to applicants as they apprehend their arrest in connection with Complaint Case No.1/2021 filed under Section 45 of the Prevention of Money Laundering Act, 2002 (for short 'the Act of 2002') based on Crime No. ECIR/RPSZO/01/2017 registered at Enforcement Directorate, Sub-zone Raipur, District Raipur (CG) for commission of offence punishable under Sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Special Court under the Act of 2002. He submits that initially crime was registered only against Sunil Agrawal, Chartered Accountant. Perusal of entire material available in file either placed on behalf of applicants or non-applicant, there is no specific allegation against applicants. Applicants are not having any relation in opening of any of bank accounts, as alleged in complaint i.e. 446 bank accounts or in creating 13 shell companies. Applicants have participated during course of inquiry / investigation, provided documents, their statements under Section 50 of the Act of 2002 were also recorded. They have not avoided investigation process. As they have already participated in investigation proceedings, therefore, there is no chance of their fleeing away. After inquiry/investigation by non-applicant Department complaint case is filed, no custodial interrogation is required. Hence, applicants may be extended benefit of anticipatory bail under Section 438 of CrPC. In support of above contention, learned counsel places his reliance on decision of Hon'ble Supreme Court in Gurbaksh Singh Sibbia vs. State of Punjab reported in (1980) 2 SCC 565; Sushila Aggarwal vs. State ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anted anticipatory bail, stands on different footing from that of present applicants as they were officials/employees of bank where alleged 446 benami bank accounts were opened in which huge amount was deposited. Amount deposited in 446 bank accounts was shown invested in 13 companies which are shell companies. From account of 13 shell companies amount was invested in M/s Prime Ispat Ltd. of which present applicants are Directors as share capital. Applicants in collusion with Sunil Agrawal, Chartered Account, his relatives; Babulal Agrawal (IAS) (brother of applicants) got opened 446 bank accounts in Pandri and Ramsagarpara branches of Union Bank of India, Raipur; deposited huge amount in benami bank accounts and invested in 13 shell companies created by Sunil Agrawal and others; thereafter said amount was invested in share capital of M/s Prime Ispat Ltd. He submits that Section 3 of the Act of 2002 defines offence of money laundering which is very exhaustive and includes concealment or possession or acquisition or use of money either directly or indirectly. During course of inquiry/investigation, sufficient material is collected against applicants and even Sunil Agrawal, Chartered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icipatory bail. 7. I have heard learned counsel for the parties and also perused documents placed on record by non-applicant Department which includes statement of co-accused Sunil Agrawal recorded under Section 50 of the Act of 2002. 8. Perusal of complaint would show that based on information received by non-applicant Department from Income Tax Department, inquiry/investigation was conducted against one Babulal Agrawal (IAS). During course of inquiry/ investigation, it revealed that Babulal Agrawal is brother of applicants and are Directors of M/s Prime Ispat Pvt. Ltd. Sunil Agrawal, Chartered Accountant of Babulal Agrawal and M/s Prime Ispat Ltd., got opened benami bank accounts in Pandri and Ramsagarpara branches of Union Bank of India, Raipur; bank account holders are villagers, labourers, betel shop vendors, agriculturists; some of them are unemployed. Huge amount was deposited in their accounts immediately after their opening. Amount deposited in benami bank accounts was invested in 13 shell companies, which in turn made investment in M/s Prime Ispat Pvt. Ltd. Applicants are Directors/Managing Directors of M/s Prime Ispat. Tainted amount of ₹ 39,61,93,598/- appro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l for both sides have accepted position that after passing of judgment in Nikesh Tarachand Shah's case (supra), the Legislature amended part of Section 45 of the Act of 2002, which is again put to challenge and is pending consideration before Hon'ble Supreme Court. It is well settled that law framed by legislature is having presumption of its constitutionality, unless and until Constitutional Courts declared such law to be unconstitutional, it will have its force and therefore in the opinion of this Court, as twin conditions are still there in the Statute book after amendment in Section 45 of the Act of 2002, underlined principle and rigor of Section 45 of the Act of 2002 may get triggered once prayer for anticipatory bail is made in connection with offence under the Act of 2002. 12. Merely because case is registered on complaint and cognizance of complaint is taken by Court after about two years, will in itself is not a ground considering entitlement of anticipatory bail but it is to be considered on merits of each case. In case at hand, there is allegation of involvement of applicants for committing offence under the Act of 2002 and amount involved is more than ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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