https://www.taxtmi.com/caselaws?id=759907 In a prosecution based on alleged disproportionate assets, the Bombay HC held that the Enforcement Directorate could not treat the entire amount mentioned in the predicate FIR as proceeds of crime while the predicate investigation remained incomplete and the extent of unexplained assets was still indeterminate. It further found the arrest under Section 19 of the PMLA vulnerable because the material then available was limited to the FIR allegations and did not meet the objective standard for arrest; statements recorded after arrest could not cure that defect. Considering prolonged custody and the unlikely early commencement of trial, the Court held that the applicant satisfied the Section 45 twin conditions and was entitled to bail. en-us Wed, 09 Oct 2024 00:00:00 +0530 Fri, 11 Oct 2024 08:58:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759907 In a prosecution based on alleged disproportionate assets, the Bombay HC held that the Enforcement Directorate could not treat the entire amount mentioned in the predicate FIR as proceeds of crime while the predicate investigation remained incomplete and the extent of unexplained assets was still indeterminate. It further found the arrest under Section 19 of the PMLA vulnerable because the material then available was limited to the FIR allegations and did not meet the objective standard for arrest; statements recorded after arrest could not cure that defect. Considering prolonged custody and the unlikely early commencement of trial, the Court held that the applicant satisfied the Section 45 twin conditions and was entitled to bail. Case-Laws Money Laundering Wed, 09 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759907