TMI Blog2022 (11) TMI 1354X X X X Extracts X X X X X X X X Extracts X X X X ..... re to be viewed differently while considering the bail application of an accused. Considering the rigours of Section 45 of the PMLA, this Court does not find this case to be a fit case to enlarge the accused-applicant on bail and, thus the bail application is hereby rejected. - Criminal Misc. Bail Application No. - 13116 Of 2022 - - - Dated:- 15-11-2022 - Dinesh Kumar Singh, J. Counsel for Applicant :- Mohd. Yasir Abbasi. Counsel for Opposite Party :- Kuldeep Srivastava. ORDER HON'BLE DINESH KUMAR SINGH, J. 1. Present application under Section 439 Code of Criminal Procedure, 1973 (hereinafter referred to as Cr.P.C. ) read with Section 45 of the Prevention of Money Laundering Act, 2002 (hereinafter ref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 62,100/- per bike. In lieu of the investment, the investor would get Rs.9,765/- per month up to 12 months i.e. total return of Rs.1,17,180/- in a year. It was further assured that if anyone invests in 3, 5, or 7 bikes, he would get bonus of Rs. 4,590/, Rs. 9,180/- and Rs. 13,770/- respectively. 6. In the above manner, M/s Garvit Innovative Promoters Ltd. and related persons collected several thousands of crores from the investors and had cheated and defrauded them by not paying any money as promised. After expiry of 12 months the bike would become the property of the Company. Agreements with the people who invested in the said scheme were executed by the Managing Director of the said company i.e. Sanjay Bhati. There were also franchi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agreements and total number of I.Ds. were even more. However, only 10,000/- motorcycles were purchased from TVS and Bajaj for bike taxi operations. BIKEBOT commenced its operation in Noida, Ghaziabad, Baghpat, Meerut, Muzaffarnagar, Badaut, Kherka, Loni, Hapur, Moradabad, Varanasi, Kanpur, Mathura, Khurja, Aligarh, Jaipur, Indore, Kota, Pune, Dehradun, Chennai, Bengaluru, Gurgaon and Faridabad etc. 10. Even as per statement of accused-Sanjay Bhati, the company collected around 2,800 crores and out of which around 1,800 crores to 2,000 crores were only paid back to the customers. Thus, accused Sanjay Bhati along with others had floated very highly lucrative investment plans in the guise of a bike taxi service in the name and style of BIK ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st for acquisition of various immovable properties and creation of beneficial ownership in Trusts/Societies. The funds have also been moved to shell companies for rotation and concealing of true purpose of the transactions. 13. During PMLA investigations, 26 immovable properties amounting to Rs. 1,01,48,78,800/- have been identified as proceeds of crime and subsequently, were provisionally attached by Authorized officer vide order dated 20.07.2020, and the same was confirmed by learned Adjudicating Authority vide order dated 14.01.2021. In addition to above, flow of proceeds of crime in various bank accounts of M/s. Garvit Innovative Promoters Ltd. and other companies were identified as proceeds of crime which amount to Rs.2,21,93,055.23 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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