https://www.taxtmi.com/caselaws?id=758785 HC granted regular bail to petitioner in money laundering case involving non-compliance and misuse of subsidized coal under Prevention of Money Laundering Act, 2002. Court found that amount of Rs. 29,50,36,622.79 was paid/purchased by petitioner, making it prima facie not proceeds of crime as defined under Section 2(1)(u). Relying on SC precedent in Vijay Madanlal Choudhary, court held property must be derived from criminal activity relating to scheduled offence. Petitioner released on bail of Rs. 50,000 with two sureties. en-us Fri, 13 Sep 2024 00:00:00 +0530 Wed, 18 Sep 2024 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758785 HC granted regular bail to petitioner in money laundering case involving non-compliance and misuse of subsidized coal under Prevention of Money Laundering Act, 2002. Court found that amount of Rs. 29,50,36,622.79 was paid/purchased by petitioner, making it prima facie not proceeds of crime as defined under Section 2(1)(u). Relying on SC precedent in Vijay Madanlal Choudhary, court held property must be derived from criminal activity relating to scheduled offence. Petitioner released on bail of Rs. 50,000 with two sureties. Case-Laws Money Laundering Fri, 13 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758785