TMI Blog2022 (9) TMI 132X X X X Extracts X X X X X X X X Extracts X X X X ..... ent for a terms of imprisonment of more than three years under Part A of the schedule has been substituted with accused of an offence under this Act. The Hon ble Apex Court in THE ASST. DIRECTOR ENFORCEMENT DIRECTORATE VERSUS DR. V.C. MOHAN [ 2022 (1) TMI 511 - SUPREME COURT] held once the prayer for bail is made for the offence under PMLA 2002, the rigors principle underlying Section of 45 get triggered on. There are reasonable grounds for believing that applicant is guilty of the offences of money laundering and he is likely to commit any offence, if enlarged on bail - Bail application dismissed. - B.A. No. 4043 of 2022 - - - Dated:- 12-7-2022 - Hon ble Mr. Justice Subhash Chand For the Petitioner : Mr. Alok Anand, Advocate For the State (E.D.) : Mr. Amit Kumar Das, A.P.P. ORDER This bail application has been filed on behalf of the applicant Shri Ram Pratap Verma @ Ram Pratap Verma with prayer to release on bail in connection with ECIR No. 02/2020, arising out of ECIR No. RNSZO/02/2017 (CNR No. JHRNO1-002548-2020) for the alleged commission of offences under Section 3 read with Section 4 of Prevention of Money Laundering Act, 2002, pending in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd its Directors including Ram Pratap Verma for the purpose of laundering of proceeds of crime. During scrutiny on the basis of the statement of accounts of the Bank Accounts of M/s S.B.P.L. an amount to the tune of Rs. 49,62,77,876/- was received from several customers during the period of 14.06.2010 to 31.12.2012. The said amount of Rs. 14.9 crores was either directly received from the customers or deposited in cash by collecting the same from the customers. During investigation it was also revealed that in the account of S.B.P.L. and its Directors approximately an amount of Rs. 65,45,09,876/- was received from the customers which was suspected to be proceeds of crime having been indulged in criminal activities related to the schedule offence by way of cheating people in the name of selling the plots of land. During investigation, it was also revealed that in the bank account of Ram Pratap Verma an amount of Rs. 20,73,749/- was transferred from the bank account of SBPL. It was salary account of Ram Pratap Verma. In his statement he stated that the said amount was transferred by Jayant Dayal Nandy and Anamika Nandy with the instruction to withdraw the same in cash and hand over th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f crime including its concealment, possession, acquisition or use and projecting or claiming] it as untainted property shall be guilty of offence of money laundering. 4. Punishment for money-laundering. Whoever commits the offence of money-laundering shall be punishable with rigorous imprisonment for a term which shall not be less than three years but which may extend to seven years and shall also be liable to fine. Provided that where the proceeds of crime involved in money-laundering relates to any offence specified under paragraph 2 of Part A of the Schedule, the provisions of this section shall have effect as if for the words which may extend to seven years , the words which may extend to ten years had been substituted. 70. Offences by companies.- (1) Where a person committing a contravention of any of the provisions of this Act or of any rule, direction or order made thereunder is a company, every person who, at the time the contravention was committed, was in charge of, and was responsible to the company, for the conduct of the business of the company as well as the company, shall be deemed to be guilty of the contravention and shall be liable to be proce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal limitation. 9. The twin conditions under Section 45 (1) for the offences classified thereunder a Part-A of the Schedule was held arbitrary and discriminatory and invalid in the case of Nikesh Tarachand Shah (supra). Subsequently, the Section 45 of the Act, 2002 has been amended by Amendment Act, 13 of 2008, whereby the words imprisonment for a terms of imprisonment of more than three years under Part A of the schedule has been substituted with accused of an offence under this Act 10 . The Hon ble Apex Court in Assistant Director Enforcement Directorate vs. Dr. V.C. Mohan 2022 LL (SC) 16 held once the prayer for bail is made for the offence under PMLA 2002, the rigors principle underlying Section of 45 get triggered on. 11. The Hon ble Apex Court in the case of Prakash Gurbaxami v. The Directorate of Enforcement reported in 2021 SCC Online P H 1567 has held as under:- 18. By Act 13 of 2018 Section 45 (1) of the PMLA was sought to be amended w.e.f. 19.04.2018. Through such amendment the words punishable for a term of imprisonment of more than three years under Part A of the Schedule as occurring in Section 45 (1) before the judgmen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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