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TMI Blog2023 (3) TMI 1474X X X X Extracts X X X X X X X X Extracts X X X X ..... ishable under Section 4 of the Prevention of Money Laundering Act (hereinafter in short referred to as 'PML Act') against the 12 accused persons, including the present petitioner. This anticipatory bail application has been filed on behalf of the accused petitioner, namely Paras Kumar Bansal, who is the proprietor of M/s Paras Lubricants Limited, apprehends his arrest in this Special Case (PMLA) No. 01 of 2020 arising out of Special Case (PMLA) No. 02 of 2018 in ECIR No. PTZO/05/2016 under Section 3 and Section 4 of the PML Act. As per the prosecution case, the allegation against the petitioner/proprietor of M/s Paras Lubricants Ltd. is that proceeds of crime amounting to Rs. 1,04,02,350/- originating from Bank accounts held with Bank of India, G.B. Road, Gaya have merged in the Bank A/c No. 018484600000212 of M/s Paras Lubricants Ltd. with Yes Bank, Pitampura, New Delhi during the period from July 2016 October, 2016. During the investigation, it is established that the petitioner Paras Kumar Bansal, Proprietor of M/s Paras Lubricants Ltd. is knowingly involved in acquisition, concealment and transfer of proceeds of crime and is knowingly involved in process or activity connected ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncial institutions. He submits that the respondents has failed to disclose the fact that the payment of Rs.15,00,000/- made to the petitioner on 08.07.2016 after being layered through the bank A/c No. 113805501029 in the name of Sunil Trading Company held with ICICI Bank, Fatehpuri New Delhi was not a one of transactions have been taken place between the petitioner and M/s Sunil Trading Company. He submits that the petitioner has produced the record of purchase order to the respondent but the respondent deliberately omitted the same from complaint petition in order to frame this petition under Section 4 of the PMLA by putting the burden of proof under Section 24 of the PMLA on the petitioner. He submits that one of the petitioner's property has already been attached by the respondents and, therefore, there is no chance of petitioner running away and therefore he deserves the anticipatory bail. He further submits that the charge-sheet has been submitted and the petitioner has cooperated in the investigation and the petitioner was not apprehended by the police. Mr. K.N. Singh, learned A.S.G. assisted by Mr. Abhay Jha opposed the anticipatory bail of the petitioner by submitting tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed in money laundering. This is depicted schematically below:- Learned A.S.G. further submits that the petitioner Proprietor of M/s Paras Lubricants Ltd., New Delhi could not produce the copy of purchase orders in respect of transaction made with the firms namely M/s Sandeep Traders, New Delhi and M/s Sunil Trading Company, New Delhi, at the time of recording of statement under Section 50 of the PMLA on 05.02.2018 and submitted that he will send the same in due course. However, he had not submitted the copies of purchase order till the date of filing of prosecution complaint and further created false purchase orders in the name of M/s Sandeep Traders, New Delhi and M/s Sunil Trading Company, New Delhi. Therefore, he is barred from relying on the documents which were not submitted and verified during the course of investigation. The Parliament has amended the Section 45 of PMLA vide amendment under the Finance Act, 2018 (13 of 2018) w.e.f 01.04.2018. As per amended Section 45 of the PMLA, the offence are cognizable and non-bailable. 45. Offences to be cognizable and non-bailable. (1) Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), no perso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce punishable for a term of imprisonment of more than three years under Part A of the Schedule of PMLA: (I) That the prosecutor must be given an opportunity to oppose the application for bail; and (ii) That the court must be satisfied that there are reasonable grounds for believing that the accused person is not guilty of such offence and that he is not likely to commit any offence while on bail. 30. The conditions specified under Section 45 of PMLA are mandatory and needs to be complied with, which is further strengthened by the provisions of Section 65 and also Section 71 of PMLA. Section 65 requires that the provisions of CrPC shall apply insofar as they are not inconsistent with the provisions of this Act and Section 71 provides that the provisions of PMLA shall have overriding effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force. PMLA has an overriding effect and the provisions of CrPC would apply only if they are not inconsistent with the provisions of this Act. Therefore, the conditions enumerated in Section 45 of PMLA will have to be complied with even in respect of an application for bail made under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X
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