https://www.taxtmi.com/caselaws?id=763033 The HC granted bail to the petitioner in a money laundering case despite stringent PMLA provisions. The court found that ED failed to establish the link between proceeds of crime and petitioner's bank accounts, and prosecution cannot commence solely on co-accused statements under section 50 PMLA. The petitioner was not named in the predicate offense FIR or charge sheet. Considering prolonged custody of eleven months without interrogation, voluminous evidence requiring extensive trial time, and the constitutional right to speedy trial, the court released the petitioner on bail with stringent conditions to address concerns about witness tampering and absconding. en-us Fri, 06 Dec 2024 00:00:00 +0530 Wed, 11 Dec 2024 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763033 The HC granted bail to the petitioner in a money laundering case despite stringent PMLA provisions. The court found that ED failed to establish the link between proceeds of crime and petitioner's bank accounts, and prosecution cannot commence solely on co-accused statements under section 50 PMLA. The petitioner was not named in the predicate offense FIR or charge sheet. Considering prolonged custody of eleven months without interrogation, voluminous evidence requiring extensive trial time, and the constitutional right to speedy trial, the court released the petitioner on bail with stringent conditions to address concerns about witness tampering and absconding. Case-Laws Money Laundering Fri, 06 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763033