Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Anticipatory bail under the PMLA was considered against the twin test requiring reasonable grounds to believe the accused are not guilty and pose no likelihood of offending while on bail; the court found no such grounds and dismissed anticipatory bail. The court held custodial interrogation is necessary in complex, layered moneylaundering investigations involving mule accounts, transnational syndicates, risk of evidence destruction and alleged bribery, and that economic/socioeconomic offences require stricter bail scrutiny; the presumption regarding proceeds of crime under the PMLA weighed against bail. The HC balanced Article 21 liberty interests with investigatory needs and prioritized effective interrogation.
Anticipatory bail under the PMLA was considered against the twin test requiring reasonable grounds to believe the accused are not guilty and pose no likelihood of offending while on bail; the court found no such grounds and dismissed anticipatory bail. The court held custodial interrogation is necessary in complex, layered moneylaundering investigations involving mule accounts, transnational syndicates, risk of evidence destruction and alleged bribery, and that economic/socioeconomic offences require stricter bail scrutiny; the presumption regarding proceeds of crime under the PMLA weighed against bail. The HC balanced Article 21 liberty interests with investigatory needs and prioritized effective interrogation.
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