Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
HC held that, for bail under PMLA s.45, the court must form an opinion on whether reasonable grounds exist to believe the accusation is prima facie true by examining materials on record without weighing evidence minutely. On the facts, the prosecution failed to demonstrate any documentary nexus between the Applicant and the alleged illegal mining proceeds; reliance on uncorroborated co-accused statements was insufficient. Investigation concerning the Applicant is complete, material seized precludes tampering, and the Applicant had independently disclosed substantial income to tax authorities prior to the prosecution. Balancing these factors and constitutional considerations, the bail petition is allowed; Applicant to be released on bail subject to conditions.
HC held that, for bail under PMLA s.45, the court must form an opinion on whether reasonable grounds exist to believe the accusation is prima facie true by examining materials on record without weighing evidence minutely. On the facts, the prosecution failed to demonstrate any documentary nexus between the Applicant and the alleged illegal mining proceeds; reliance on uncorroborated co-accused statements was insufficient. Investigation concerning the Applicant is complete, material seized precludes tampering, and the Applicant had independently disclosed substantial income to tax authorities prior to the prosecution. Balancing these factors and constitutional considerations, the bail petition is allowed; Applicant to be released on bail subject to conditions.
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