https://www.taxtmi.com/highlights?id=81489 The court granted regular bail to the petitioner in a money laundering case involving proceeds of crime and non-compliance with subsidized coal regulations. The court analyzed the materials on record, including FIRs against the petitioner in 2010-2011 and the ECIRs (Enforcement Case Information Reports) filed by the authorities. The court considered the Supreme Court's judgment in Vijay Madanlal Choudhary, which clarified the definition of "proceeds of crime" under the Prevention of Money Laundering Act, 2002. Based on this judgment, the court found that the amount invested by the petitioner, described as "paid and purchase," could not prima facie be considered proceeds of crime. Consequently, the petitioner was directed to be released on r..... en-us Thu, 19 Sep 2024 08:00:15 +0530 Thu, 19 Sep 2024 08:00:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=81489 The court granted regular bail to the petitioner in a money laundering case involving proceeds of crime and non-compliance with subsidized coal regulations. The court analyzed the materials on record, including FIRs against the petitioner in 2010-2011 and the ECIRs (Enforcement Case Information Reports) filed by the authorities. The court considered the Supreme Court's judgment in Vijay Madanlal Choudhary, which clarified the definition of "proceeds of crime" under the Prevention of Money Laundering Act, 2002. Based on this judgment, the court found that the amount invested by the petitioner, described as "paid and purchase," could not prima facie be considered proceeds of crime. Consequently, the petitioner was directed to be released on r..... Highlights Money Laundering Thu, 19 Sep 2024 08:00:15 +0530 https://www.taxtmi.com/highlights?id=81489