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TMI Blog2023 (11) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... ts of the case in short are as under:- 2.1. Two First Information Reports i.e. F.I.R. No.159/2021 & 161/2021 were registered by Police Station - Khajrana against Deepak Jain @ Dilip Sisodiya, Omprakash Danwani, Dipesh Kumar Vora, Kamlesh Jain, Naseen Haider and Keshav Nachani on account of fraud in sale and purchase of land belonging to two Housing Co-operative Societies. As per the F.I.R. referred above, the rightful owners are in possession of the plots sold to them by Majdoor Panchayat Grih Nirman Co-operative Society, Indore since 1996. However, Deepak Jain @ Dilip Sisodiya in conspiracy with the then President of the Society, Shri Depesh Jain and other office bearer sold these plots to Keshav Nachani and Omprakash Danwani. They also o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - in his account, Deepak Jain @ Dilip Sisodiya returned the amount of Rs. 70,00,000/- to the account of Kalpataru Housing Society and remaining amount of Rs. 4,15,00,000/- from the Society's bank account to his personal bank account. He utilized the said amount for purchase of two immovable property. During investigation, he admitted that he transferred the ownership of one of the properties in the name of Ashok Pipada i.e. present applicant by way of same transaction as no money was transferred, therefore, the present applicant prima facie committed the offence under Section 3 of PML Act and knowingly assisted Deepak Jain @ Dilip Sisodiya in process and activities connected with proceeds of crime including it concealment, possession an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ugh ICICI Bank, therefore, the authorities have wrongly included the name of present applicant in this crime without examining the validity of genuineness of the sale deed. The present applicant gave a loan of Rs. 3,42,89,088/- to Deepak Jain @ Dilip Sisodiya out of which Rs. 1,33,12,299/- was adjusted in sale of plot No.426 and remaining amount has not been returned till date, he has filed a civil suit which is pending before the District Court, Indore, therefore, the proceedings are liable to be quashed against the present applicant. 04. I have heard learned counsel for the parties at length and perused the record. 05. Section 3 of the PML Act is reproduced below:- "3. Offence of money-laundering.-Whosoever directly or indirectly atte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall be guilty of money laundering if such persons is found to have indirectly or directly attempted to indulge or knowingly assisted or knowingly is a party or is actually involved in any of its concealment, possession, acquisition, use etc. in any manner whatsoever. 07. As per prosecution case, prima facie the money which Deepak Jain @ Dilip Sisodiya received by way of crime was utilized for purchase of property and out which one was transferred by way of shame and bogus sale deed. After the matter was taken into investigation under PML Act, the applicant hurriedly filed a civil suit showing the so called loan amount given to Deepak Jain @ Dilip Sisodiya out of which amount was taken into consideration for transfer of the property. Pri ..... X X X X Extracts X X X X X X X X Extracts X X X X
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