https://www.taxtmi.com/caselaws?id=314342 Bail under the Prevention of Money Laundering Act, 2002 was refused because the record showed reasonable grounds to believe the applicant was involved in laundering proceeds of crime. The Court applied the statutory twin conditions for bail under the Act, as revived after amendment, and found they were not satisfied on the materials collected during investigation. The transactions showed funds from a government body being credited to a partnership firm, transferred through multiple accounts, and partly used for vehicles and business dealings, indicating layering and use of proceeds of crime. On that basis, enlargement on bail was denied. en-us Wed, 13 Apr 2022 00:00:00 +0530 Sat, 01 Jun 2024 15:28:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314342 Bail under the Prevention of Money Laundering Act, 2002 was refused because the record showed reasonable grounds to believe the applicant was involved in laundering proceeds of crime. The Court applied the statutory twin conditions for bail under the Act, as revived after amendment, and found they were not satisfied on the materials collected during investigation. The transactions showed funds from a government body being credited to a partnership firm, transferred through multiple accounts, and partly used for vehicles and business dealings, indicating layering and use of proceeds of crime. On that basis, enlargement on bail was denied. Case-Laws Money Laundering Wed, 13 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314342