https://www.taxtmi.com/caselaws?id=424640 Regular bail in a PMLA prosecution may be refused where the material discloses a prima facie role in laundering proceeds of crime and the accused fails to satisfactorily explain the source and movement of funds. On the facts noted, allegations of large-scale misappropriation of depositors' money, the petitioner's alleged control over the bank and related entity, and the pending connected criminal proceedings supported the gravity of the accusation. The attachment proceedings did not reduce that seriousness. Bail was rejected. en-us Fri, 24 Jun 2022 00:00:00 +0530 Wed, 06 Jul 2022 08:12:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424640 Regular bail in a PMLA prosecution may be refused where the material discloses a prima facie role in laundering proceeds of crime and the accused fails to satisfactorily explain the source and movement of funds. On the facts noted, allegations of large-scale misappropriation of depositors' money, the petitioner's alleged control over the bank and related entity, and the pending connected criminal proceedings supported the gravity of the accusation. The attachment proceedings did not reduce that seriousness. Bail was rejected. Case-Laws Money Laundering Fri, 24 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424640