https://www.taxtmi.com/caselaws?id=753396 The Punjab and Haryana HC dismissed an anticipatory bail application in a money laundering case under PMLA. The court held that Section 45 of PMLA's twin conditions apply to anticipatory bail, requiring reasonable grounds to believe the accused is not guilty and unlikely to commit offenses while on bail. The court found sufficient prima facie material against the petitioner and noted that economic offenses require systematic investigation that would be hindered by pre-arrest bail protection. The ECIR was deemed legitimate despite withdrawal of the original complaint, as subsequent FIRs validated its existence. The court emphasized that anticipatory bail should be granted sparingly in economic offenses affecting society's economic fabric. en-us Tue, 28 May 2024 00:00:00 +0530 Fri, 31 May 2024 09:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753396 The Punjab and Haryana HC dismissed an anticipatory bail application in a money laundering case under PMLA. The court held that Section 45 of PMLA's twin conditions apply to anticipatory bail, requiring reasonable grounds to believe the accused is not guilty and unlikely to commit offenses while on bail. The court found sufficient prima facie material against the petitioner and noted that economic offenses require systematic investigation that would be hindered by pre-arrest bail protection. The ECIR was deemed legitimate despite withdrawal of the original complaint, as subsequent FIRs validated its existence. The court emphasized that anticipatory bail should be granted sparingly in economic offenses affecting society's economic fabric. Case-Laws Money Laundering Tue, 28 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753396