https://www.taxtmi.com/caselaws?id=753361 Chhattisgarh HC rejected the second bail application in a money laundering case involving illegal coal transportation levy. The applicant challenged arrest validity citing insufficient remand order reasons and alleged illegal custody, but the court found Section 19 PMLA compliance as remand order contained specific reasons regarding coal washery purchases worth Rs. 35 crores requiring investigation beyond 24 hours. The court determined the applicant failed to satisfy twin conditions under Section 45 PMLA, being identified as kingpin who facilitated acquisition of coal washeries through proceeds of crime totaling Rs. 96 crores with substantial cash transactions. Properties worth crores were attached and confirmed by Adjudicating Authority. The applicant could not reverse burden of proof or dislodge prosecution case as required for bail under PMLA provisions. en-us Mon, 08 Apr 2024 00:00:00 +0530 Tue, 28 May 2024 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753361 Chhattisgarh HC rejected the second bail application in a money laundering case involving illegal coal transportation levy. The applicant challenged arrest validity citing insufficient remand order reasons and alleged illegal custody, but the court found Section 19 PMLA compliance as remand order contained specific reasons regarding coal washery purchases worth Rs. 35 crores requiring investigation beyond 24 hours. The court determined the applicant failed to satisfy twin conditions under Section 45 PMLA, being identified as kingpin who facilitated acquisition of coal washeries through proceeds of crime totaling Rs. 96 crores with substantial cash transactions. Properties worth crores were attached and confirmed by Adjudicating Authority. The applicant could not reverse burden of proof or dislodge prosecution case as required for bail under PMLA provisions. Case-Laws Money Laundering Mon, 08 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753361