https://www.taxtmi.com/caselaws?id=450407 The Jharkhand HC dismissed a bail application in a money laundering case under PMLA. The court held that money laundering is a continuing offense involving direct or indirect involvement with proceeds of crime through concealment, possession, acquisition, or use. The petitioner failed to satisfy the twin conditions under Section 45(1) of PMLA for bail. The court rejected the parity argument, noting that the petitioner's role differed significantly from a co-accused who was granted bail, as the petitioner had complete control over the company used for the alleged offense, while the co-accused had ceased directorship. en-us Fri, 01 Mar 2024 00:00:00 +0530 Tue, 05 Mar 2024 13:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450407 The Jharkhand HC dismissed a bail application in a money laundering case under PMLA. The court held that money laundering is a continuing offense involving direct or indirect involvement with proceeds of crime through concealment, possession, acquisition, or use. The petitioner failed to satisfy the twin conditions under Section 45(1) of PMLA for bail. The court rejected the parity argument, noting that the petitioner's role differed significantly from a co-accused who was granted bail, as the petitioner had complete control over the company used for the alleged offense, while the co-accused had ceased directorship. Case-Laws Money Laundering Fri, 01 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450407