https://www.taxtmi.com/caselaws?id=435630 In a PMLA prosecution, bail was declined where the record showed prima facie material linking the applicant to the alleged layering of proceeds of crime. The Court relied on business dealings with the main accused, participation in transactions involving two coal washeries, and circumstances suggesting undervaluation and a nexus with the alleged laundering activity. On that material, the Court held that release on bail was not justified at that stage and refused the application. en-us Tue, 21 Mar 2023 00:00:00 +0530 Fri, 24 Mar 2023 09:34:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435630 In a PMLA prosecution, bail was declined where the record showed prima facie material linking the applicant to the alleged layering of proceeds of crime. The Court relied on business dealings with the main accused, participation in transactions involving two coal washeries, and circumstances suggesting undervaluation and a nexus with the alleged laundering activity. On that material, the Court held that release on bail was not justified at that stage and refused the application. Case-Laws Money Laundering Tue, 21 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435630