https://www.taxtmi.com/caselaws?id=188420 Regular bail under the Prevention of Money Laundering Act was considered on the basis that the applicant was not shown as accused in any scheduled offence. The Court noted that "proceeds of crime" under the Act must arise from criminal activity relating to a scheduled offence, and the alleged cricket-betting income did not satisfy that definition on the facts presented. As Section 45's twin bail conditions apply only where the statutory preconditions are met, the restrictive embargo was treated as inapplicable. The matter was therefore assessed under ordinary bail principles, with investigation complete and the complaint already filed, and the applicant was released on bail with conditions. en-us Tue, 08 Dec 2015 00:00:00 +0530 Thu, 01 Dec 2016 10:20:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188420 Regular bail under the Prevention of Money Laundering Act was considered on the basis that the applicant was not shown as accused in any scheduled offence. The Court noted that "proceeds of crime" under the Act must arise from criminal activity relating to a scheduled offence, and the alleged cricket-betting income did not satisfy that definition on the facts presented. As Section 45's twin bail conditions apply only where the statutory preconditions are met, the restrictive embargo was treated as inapplicable. The matter was therefore assessed under ordinary bail principles, with investigation complete and the complaint already filed, and the applicant was released on bail with conditions. Case-Laws Money Laundering Tue, 08 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188420