https://www.taxtmi.com/caselaws?id=429731 Bail under the PMLA was denied where the material showed unexplained receipt and utilisation of loan funds, alleged cash components, and failure to disclose the properties or investments said to have been made from the proceeds of crime. The Court treated the alleged laundering as connected to a predicate offence involving cheating, conspiracy, criminal breach of trust and offences under the Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004, and accepted the prosecution's concern that release could obstruct investigation and hinder tracing or attachment of assets. On that material, the statutory bail requirements in PMLA matters were not satisfied, so bail was refused. en-us Fri, 30 Sep 2022 00:00:00 +0530 Fri, 04 Nov 2022 08:51:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429731 Bail under the PMLA was denied where the material showed unexplained receipt and utilisation of loan funds, alleged cash components, and failure to disclose the properties or investments said to have been made from the proceeds of crime. The Court treated the alleged laundering as connected to a predicate offence involving cheating, conspiracy, criminal breach of trust and offences under the Karnataka Protection of Interest of Depositors in Financial Establishments Act, 2004, and accepted the prosecution's concern that release could obstruct investigation and hinder tracing or attachment of assets. On that material, the statutory bail requirements in PMLA matters were not satisfied, so bail was refused. Case-Laws Money Laundering Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429731