Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
HC held that the bail applicant failed to meet the mandatory twin conditions under the PMLA. The Court found prima facie material showing scheduled offences, recoveries, and financial transactions through accounts of the petitioner, family members and the Trust that suggested routing and layering of proceeds of crime. It also accepted that statements recorded under Section 50 of the PMLA are admissible and relied on them along with the prosecution complaint to conclude that reasonable grounds were not shown for believing the petitioner was not guilty or would not reoffend on bail. Bail was therefore refused.
HC held that the bail applicant failed to meet the mandatory twin conditions under the PMLA. The Court found prima facie material showing scheduled offences, recoveries, and financial transactions through accounts of the petitioner, family members and the Trust that suggested routing and layering of proceeds of crime. It also accepted that statements recorded under Section 50 of the PMLA are admissible and relied on them along with the prosecution complaint to conclude that reasonable grounds were not shown for believing the petitioner was not guilty or would not reoffend on bail. Bail was therefore refused.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
