Confiscation and duty recovery quashed where licensing records show export obligation discharged; customs lacks jurisdiction absent licence annulment ...
FOB is Incoterm reflecting exporter's transaction value; declared shipping bill value not automatically confiscable under s.113(i), s.125, ss.114(i) a...
HC allowed the petitioner's bail application and directed release on statutory conditions, subject to fulfillment of the twin conditions under s.45 of the PMLA. The HC recorded prima facie ED findings of substantial deposits in the petitioner's account, statements under s.50 linking the petitioner with a co-accused in layering and laundering of proceeds, and commercial association with the co-accused, but concluded that continued custody for ~11 months against a maximum seven-year sentence, coupled with a trial requiring 79 witnesses and voluminous documentary evidence (c.26,739 pages), renders a speedy trial under Art.21 unlikely. In balancing liberty and public interest the court granted bail while preserving investigative and prosecutorial rights.
HC allowed the petitioner's bail application and directed release on statutory conditions, subject to fulfillment of the twin conditions under s.45 of the PMLA. The HC recorded prima facie ED findings of substantial deposits in the petitioner's account, statements under s.50 linking the petitioner with a co-accused in layering and laundering of proceeds, and commercial association with the co-accused, but concluded that continued custody for ~11 months against a maximum seven-year sentence, coupled with a trial requiring 79 witnesses and voluminous documentary evidence (c.26,739 pages), renders a speedy trial under Art.21 unlikely. In balancing liberty and public interest the court granted bail while preserving investigative and prosecutorial rights.
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