Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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The petitioner, accused of money laundering under the Prevention of Money Laundering Act (PMLA), sought bail. The court held that Section 45 of PMLA imposes stringent conditions for granting bail, requiring the court to be satisfied that there are reasonable grounds to believe the accused is not guilty and is unlikely to commit an offence while on bail. The prosecution alleged the petitioner influenced a bank to sanction loans to Kiran P.P., from which the petitioner received Rs. 14 crore. The court found prima facie evidence supporting the allegations, including inconsistent statements, unexplained cash credits, and unaccounted capital in the petitioner's business. Relying on Supreme Court precedents, the court concluded there were no reasonable grounds to believe the petitioner was not guilty and denied bail, considering the serious nature of the accusations.
The petitioner, accused of money laundering under the Prevention of Money Laundering Act (PMLA), sought bail. The court held that Section 45 of PMLA imposes stringent conditions for granting bail, requiring the court to be satisfied that there are reasonable grounds to believe the accused is not guilty and is unlikely to commit an offence while on bail. The prosecution alleged the petitioner influenced a bank to sanction loans to Kiran P.P., from which the petitioner received Rs. 14 crore. The court found prima facie evidence supporting the allegations, including inconsistent statements, unexplained cash credits, and unaccounted capital in the petitioner's business. Relying on Supreme Court precedents, the court concluded there were no reasonable grounds to believe the petitioner was not guilty and denied bail, considering the serious nature of the accusations.
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