https://www.taxtmi.com/caselaws?id=436239 In a PMLA bail matter, the Delhi HC held that money laundering is an independent and continuing offence involving concealment, possession, acquisition, use, or projection of proceeds of crime as untainted property. It found that the wide definition of proceeds of crime, together with surrounding circumstances such as shareholding pattern, conduct, accommodation entries, and statements recorded under Section 50, may establish beneficial ownership and effective control, and that such statements have evidentiary weight at the bail stage. Applying broad probabilities rather than a mini trial, the Court held that the material prima facie showed involvement in handling proceeds of crime and that the petitioners had not satisfied the twin conditions under Section 45. Bail was refused. en-us Thu, 06 Apr 2023 00:00:00 +0530 Fri, 07 Apr 2023 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436239 In a PMLA bail matter, the Delhi HC held that money laundering is an independent and continuing offence involving concealment, possession, acquisition, use, or projection of proceeds of crime as untainted property. It found that the wide definition of proceeds of crime, together with surrounding circumstances such as shareholding pattern, conduct, accommodation entries, and statements recorded under Section 50, may establish beneficial ownership and effective control, and that such statements have evidentiary weight at the bail stage. Applying broad probabilities rather than a mini trial, the Court held that the material prima facie showed involvement in handling proceeds of crime and that the petitioners had not satisfied the twin conditions under Section 45. Bail was refused. Case-Laws Money Laundering Thu, 06 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436239