https://www.taxtmi.com/caselaws?id=447689 The Madras HC dismissed the petitioner's regular bail application in a money laundering case involving misappropriation of credit facilities and siphoning funds for personal gains. The court held that Section 309 Cr.P.C. does not require recorded reasons for remand extensions, and bail applications under PMLA are subject to twin conditions under Section 45. Regarding statutory bail, the court ruled that since the complaint and materials disclosed offences sufficient for trial, the investigation was not incomplete despite ongoing proceedings to identify remaining proceeds of crime. The court distinguished this case from incomplete final reports and found no merit in the revision applications. en-us Fri, 15 Dec 2023 00:00:00 +0530 Tue, 02 Jan 2024 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447689 The Madras HC dismissed the petitioner's regular bail application in a money laundering case involving misappropriation of credit facilities and siphoning funds for personal gains. The court held that Section 309 Cr.P.C. does not require recorded reasons for remand extensions, and bail applications under PMLA are subject to twin conditions under Section 45. Regarding statutory bail, the court ruled that since the complaint and materials disclosed offences sufficient for trial, the investigation was not incomplete despite ongoing proceedings to identify remaining proceeds of crime. The court distinguished this case from incomplete final reports and found no merit in the revision applications. Case-Laws Money Laundering Fri, 15 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447689