https://www.taxtmi.com/caselaws?id=750857 In a prosecution under the Prevention of Money Laundering Act, 2002, bail is barred unless the accused satisfies the twin statutory conditions that there are reasonable grounds to believe he is not guilty and that he is not likely to commit an offence while on bail. Allegations of diversion of bank loan funds, use of shell companies, paper transactions, re-routing of funds, and projection of tainted money as legitimate contributions indicated a continuing laundering process linked to proceeds of crime, and the petitioner's role required trial scrutiny. As those statutory conditions were not met on the material before the Court, bail was refused. en-us Thu, 28 Mar 2024 00:00:00 +0530 Tue, 02 Apr 2024 08:07:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=750857 In a prosecution under the Prevention of Money Laundering Act, 2002, bail is barred unless the accused satisfies the twin statutory conditions that there are reasonable grounds to believe he is not guilty and that he is not likely to commit an offence while on bail. Allegations of diversion of bank loan funds, use of shell companies, paper transactions, re-routing of funds, and projection of tainted money as legitimate contributions indicated a continuing laundering process linked to proceeds of crime, and the petitioner's role required trial scrutiny. As those statutory conditions were not met on the material before the Court, bail was refused. Case-Laws Money Laundering Thu, 28 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=750857