https://www.taxtmi.com/caselaws?id=449290 Delhi HC dismissed regular bail application in money laundering case. Applicant through three companies conducted paper/bogus sales and purchases worth Rs. 314.57 crore and Rs. 200.83 crore respectively with Bankey Behari Group during 2013-17, without actual goods movement. Applicant failed to provide supporting documents and admitted to paper transactions. Rs. 113.25 crore was diverted to applicant's accounts through journal entries. HC found twin conditions under Section 45 PMLA not satisfied as material indicated applicant's involvement in acquisition, possession, and concealment of crime proceeds through cheating and forgery, constituting money laundering under Section 3 PMLA. en-us Mon, 05 Feb 2024 00:00:00 +0530 Fri, 09 Feb 2024 07:20:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449290 Delhi HC dismissed regular bail application in money laundering case. Applicant through three companies conducted paper/bogus sales and purchases worth Rs. 314.57 crore and Rs. 200.83 crore respectively with Bankey Behari Group during 2013-17, without actual goods movement. Applicant failed to provide supporting documents and admitted to paper transactions. Rs. 113.25 crore was diverted to applicant's accounts through journal entries. HC found twin conditions under Section 45 PMLA not satisfied as material indicated applicant's involvement in acquisition, possession, and concealment of crime proceeds through cheating and forgery, constituting money laundering under Section 3 PMLA. Case-Laws Money Laundering Mon, 05 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449290