https://www.taxtmi.com/caselaws?id=423776 In a PMLA bail matter, the Delhi HC applied the statutory restrictions governing regular bail and assessed the material on broad probabilities. Allegations of fraudulent export valuation, wrongful duty drawback, conversion of suspected proceeds into cash, and reintroduction through banking channels were supported by documents and witness statements. The Court held that the record did not provide reasonable grounds to believe the applicant was not guilty, and also did not support a finding that he would not reoffend while on bail. Regular bail was therefore rejected for failure to satisfy the twin conditions under the PMLA. en-us Mon, 13 Jun 2022 00:00:00 +0530 Tue, 14 Jun 2022 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423776 In a PMLA bail matter, the Delhi HC applied the statutory restrictions governing regular bail and assessed the material on broad probabilities. Allegations of fraudulent export valuation, wrongful duty drawback, conversion of suspected proceeds into cash, and reintroduction through banking channels were supported by documents and witness statements. The Court held that the record did not provide reasonable grounds to believe the applicant was not guilty, and also did not support a finding that he would not reoffend while on bail. Regular bail was therefore rejected for failure to satisfy the twin conditions under the PMLA. Case-Laws Money Laundering Mon, 13 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423776