Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
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Money laundering case involving public funds looted through apps promising high returns. Petitioner argued trial court failed to consider evidence, violated natural justice principles. Court held bail order only prima facie view, not final decision. Strictly construed money laundering offence ingredients per Supreme Court precedent. Probative value of PMLA statement to be considered at trial stage. Bail cannot be denied merely assuming recovered property is proceeds of crime. WhatsApp chats indicating fund transfers not sufficient to cancel bail at this stage. ED's apprehensions about derailing investigation or flight risk mere apprehensions without substantial reasons. More stringent conditions can be imposed if needed. Transactions claimed as genuine business dealings, proceeds of crime already deposited. Frequent fund rotations disproportionate to business, PMLA statement authenticity to be examined at trial. Investigation completed, complaint filed, no material to cancel bail. Bail granted on relevant considerations. Petition dismissed.
Money laundering case involving public funds looted through apps promising high returns. Petitioner argued trial court failed to consider evidence, violated natural justice principles. Court held bail order only prima facie view, not final decision. Strictly construed money laundering offence ingredients per Supreme Court precedent. Probative value of PMLA statement to be considered at trial stage. Bail cannot be denied merely assuming recovered property is proceeds of crime. WhatsApp chats indicating fund transfers not sufficient to cancel bail at this stage. ED's apprehensions about derailing investigation or flight risk mere apprehensions without substantial reasons. More stringent conditions can be imposed if needed. Transactions claimed as genuine business dealings, proceeds of crime already deposited. Frequent fund rotations disproportionate to business, PMLA statement authenticity to be examined at trial. Investigation completed, complaint filed, no material to cancel bail. Bail granted on relevant considerations. Petition dismissed.
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