2024 (5) TMI 1346 - SCH - Money Laundering

Interim Bail Granted: No Predicate Offence Under IPC, No Scheduled Offences in Chargesheet, Investigation Continues.

Sunil Kumar Agrawal Versus Directorate Of Enforcement

Sunil Kumar Agrawal Versus Directorate Of Enforcement - TMI Issues involved: Whether the petitioner is entitled to be released on regular bail in a case registered under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002.Summary:1. The case involved the consideration of the petitioner's entitlement to regular bail in a case registered under the Prevention of Money Laundering Act, 2002.2. The FIR was initially registered under various sections of the Indian Penal Code against an individual and his associates for obstructing officials and destroying evidence related to alleged illegal activities.3. Alleged transactions regarding the sale and purchase of properties between the individual and the petitioner's companies were noted.4. The Central Board of Direct Taxes forwarded the case to the Directorate of Enforcement, leading to the registration of the crime case.5. The petitioner was arrested by the Enforcement Directorate, which subsequently filed a statutory complaint.6. The Karnataka Police filed a chargesheet dropping certain IPC offences, and the Chief Judicial Magistrate took cognizance of non-scheduled offences under the PMLA.7. After hearing arguments, it was noted that no predicate offence under the IPC was present against the petitioner, and the chargesheet did not involve scheduled offences under the PMLA.8. The Enforcement Directorate sought time to investigate the status of the case with the Chhattisgarh Police.9. Considering the petitioner's incarceration and lack of involvement in specific charges, interim bail was granted pending further investigation.10. The petitioner was directed to be released on interim bail, subject to fulfilling bail bond requirements, with the matter scheduled for further hearing.