https://www.taxtmi.com/caselaws?id=312878 At the bail stage under the Prevention of Money Laundering Act, 2002, the HC reiterated that it need not conduct a mini-trial or weigh evidence in detail under Section 45. It noted that Section 3 is broad enough to cover direct or indirect involvement in concealment, possession, acquisition, use, or projection of proceeds of crime as untainted property, and that Section 50 statements may be relied on for assessing broad probabilities at bail, subject to trial. On the facts, serious allegations of policy manipulation, alleged kickbacks, and possible destruction or concealment of evidence, together with the gravity of the economic offence and risk to the investigation, led the Court to refuse bail. en-us Mon, 03 Jul 2023 00:00:00 +0530 Wed, 13 Mar 2024 08:43:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312878 At the bail stage under the Prevention of Money Laundering Act, 2002, the HC reiterated that it need not conduct a mini-trial or weigh evidence in detail under Section 45. It noted that Section 3 is broad enough to cover direct or indirect involvement in concealment, possession, acquisition, use, or projection of proceeds of crime as untainted property, and that Section 50 statements may be relied on for assessing broad probabilities at bail, subject to trial. On the facts, serious allegations of policy manipulation, alleged kickbacks, and possible destruction or concealment of evidence, together with the gravity of the economic offence and risk to the investigation, led the Court to refuse bail. Case-Laws Money Laundering Mon, 03 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312878