https://www.taxtmi.com/caselaws?id=439763 Bail under the Prevention of Money Laundering Act was declined where investigation materials and statements indicated prima facie involvement in creating fake fixed deposit receipts, preparing forged documents for false accounts, and facilitating the movement and layering of proceeds of crime. The court also relied on the accused's prior involvement in a similar bank fraud matter, the ongoing stage of investigation, and the risk that release could lead to tampering with evidence and obstruction of further inquiry. The accused's narrow reading of Section 3 of the PMLA did not assist on the facts, and bail was refused. en-us Thu, 27 Apr 2023 00:00:00 +0530 Mon, 03 Jul 2023 08:35:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439763 Bail under the Prevention of Money Laundering Act was declined where investigation materials and statements indicated prima facie involvement in creating fake fixed deposit receipts, preparing forged documents for false accounts, and facilitating the movement and layering of proceeds of crime. The court also relied on the accused's prior involvement in a similar bank fraud matter, the ongoing stage of investigation, and the risk that release could lead to tampering with evidence and obstruction of further inquiry. The accused's narrow reading of Section 3 of the PMLA did not assist on the facts, and bail was refused. Case-Laws Money Laundering Thu, 27 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439763