https://www.taxtmi.com/caselaws?id=442262 In a PMLA prosecution, bail was granted because the material did not prima facie establish that the applicant had planned the alleged laundering activity or that the disputed funds were clearly proceeds of crime. The Court treated the share-allotment and property-transaction allegations as matters that, by themselves, did not necessarily amount to an offence under the scheduled law so as to attract the money-laundering charge. It also relied on the applicant's substantial custody, completion of investigation, the likelihood of a prolonged trial, absence of concrete material showing a real risk of reoffending, and parity with a co-accused already on bail, and held that release was justified. en-us Tue, 22 Aug 2023 00:00:00 +0530 Sat, 26 Aug 2023 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442262 In a PMLA prosecution, bail was granted because the material did not prima facie establish that the applicant had planned the alleged laundering activity or that the disputed funds were clearly proceeds of crime. The Court treated the share-allotment and property-transaction allegations as matters that, by themselves, did not necessarily amount to an offence under the scheduled law so as to attract the money-laundering charge. It also relied on the applicant's substantial custody, completion of investigation, the likelihood of a prolonged trial, absence of concrete material showing a real risk of reoffending, and parity with a co-accused already on bail, and held that release was justified. Case-Laws Money Laundering Tue, 22 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442262