https://www.taxtmi.com/caselaws?id=425630 In a bail application under the Prevention of Money-Laundering Act, the Court found no prima facie material linking the alleged transfers and forensic audit material to criminal activity relating to the scheduled offence in a manner sufficient to satisfy the statutory twin conditions. It held that the record did not show the applicant controlled the relevant accounts or operated the alleged firms, and the prosecution conceded there was nothing presently on record to establish that the property was derived or obtained from criminal activity relating to the scheduled offence. Mere unaccounted or suspicious transactions, without foundational material connecting them to the scheduled offence and the requisite knowledge or control, were insufficient. Bail was granted. en-us Thu, 07 Jul 2022 00:00:00 +0530 Wed, 27 Jul 2022 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425630 In a bail application under the Prevention of Money-Laundering Act, the Court found no prima facie material linking the alleged transfers and forensic audit material to criminal activity relating to the scheduled offence in a manner sufficient to satisfy the statutory twin conditions. It held that the record did not show the applicant controlled the relevant accounts or operated the alleged firms, and the prosecution conceded there was nothing presently on record to establish that the property was derived or obtained from criminal activity relating to the scheduled offence. Mere unaccounted or suspicious transactions, without foundational material connecting them to the scheduled offence and the requisite knowledge or control, were insufficient. Bail was granted. Case-Laws Money Laundering Thu, 07 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425630