https://www.taxtmi.com/caselaws?id=312733 The Jharkhand HC granted bail to a petitioner in a money laundering case, finding that the Enforcement Directorate failed to comply with Section 19 of PMLA. The court held that "reason to suspect" differs from "reason to believe," requiring tangible material and justification. Even accepting prosecution allegations at face value, the case did not establish essential ingredients for money laundering under Section 3 of PMLA. The petitioner, a company director who was allegedly victimized by cheating and forgery, had no criminal antecedents. Considering the custody period since June 2023, trial stage, and evidence volume, the court granted bail with conditions. en-us Tue, 28 Nov 2023 00:00:00 +0530 Tue, 05 Mar 2024 08:56:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312733 The Jharkhand HC granted bail to a petitioner in a money laundering case, finding that the Enforcement Directorate failed to comply with Section 19 of PMLA. The court held that "reason to suspect" differs from "reason to believe," requiring tangible material and justification. Even accepting prosecution allegations at face value, the case did not establish essential ingredients for money laundering under Section 3 of PMLA. The petitioner, a company director who was allegedly victimized by cheating and forgery, had no criminal antecedents. Considering the custody period since June 2023, trial stage, and evidence volume, the court granted bail with conditions. Case-Laws Money Laundering Tue, 28 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312733