Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
The applicant's bail application was rejected as the conditions u/s 45 of PMLA were not satisfied. The HC found substantial material indicating the applicant's involvement as a key conspirator and beneficiary in the money laundering offence related to the alleged custom rice milling levy scam. The economic offence involving deep-rooted conspiracy and huge public loss was viewed seriously. The HC held that the twin conditions u/s 45 obligated it to arrive at a positive finding that the applicant did not commit a money laundering offence, which was not established. The presumption of guilt on the accused under PMLA to disprove involvement in money laundering remained unfulfilled. Consequently, the bail prayer was rejected.
The applicant's bail application was rejected as the conditions u/s 45 of PMLA were not satisfied. The HC found substantial material indicating the applicant's involvement as a key conspirator and beneficiary in the money laundering offence related to the alleged custom rice milling levy scam. The economic offence involving deep-rooted conspiracy and huge public loss was viewed seriously. The HC held that the twin conditions u/s 45 obligated it to arrive at a positive finding that the applicant did not commit a money laundering offence, which was not established. The presumption of guilt on the accused under PMLA to disprove involvement in money laundering remained unfulfilled. Consequently, the bail prayer was rejected.
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