Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
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...
The court analyzed the application for regular bail in a money laundering case involving the fraudulent setup of Vivo group companies in India without disclosing Chinese ownership and making false declarations to government bodies. Considering Section 45 of the Prevention of Money Laundering Act (PMLA), which imposes additional conditions for granting bail, the court observed that it does not create an absolute prohibition. When trial completion is unlikely within a reasonable time, and the accused is incarcerated for a long period, the conditions u/s 45 must yield to the constitutional mandate of Article 21 (right to life and personal liberty). The court cited Supreme Court judgments emphasizing the right to speedy trial and the power of constitutional courts to grant bail on grounds of violation of Part III of the Constitution, notwithstanding statutory provisions like Section 45 PMLA.
The court analyzed the application for regular bail in a money laundering case involving the fraudulent setup of Vivo group companies in India without disclosing Chinese ownership and making false declarations to government bodies. Considering Section 45 of the Prevention of Money Laundering Act (PMLA), which imposes additional conditions for granting bail, the court observed that it does not create an absolute prohibition. When trial completion is unlikely within a reasonable time, and the accused is incarcerated for a long period, the conditions u/s 45 must yield to the constitutional mandate of Article 21 (right to life and personal liberty). The court cited Supreme Court judgments emphasizing the right to speedy trial and the power of constitutional courts to grant bail on grounds of violation of Part III of the Constitution, notwithstanding statutory provisions like Section 45 PMLA.
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