https://www.taxtmi.com/caselaws?id=461025 Regular bail under the Prevention of Money-Laundering Act was refused because the prima facie material collected by the Enforcement Directorate showed alleged layering of proceeds of crime through benami bank accounts, routing cash through associates, and acquisition of assets in the names of the applicant and his wife. Statements recorded under Section 50 also supported the prosecution case. On that material, the Court found reasonable grounds to believe the applicant was involved in money laundering and held that the statutory bail conditions under Section 45 were not satisfied. en-us Fri, 04 Oct 2024 00:00:00 +0530 Fri, 07 Mar 2025 19:19:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461025 Regular bail under the Prevention of Money-Laundering Act was refused because the prima facie material collected by the Enforcement Directorate showed alleged layering of proceeds of crime through benami bank accounts, routing cash through associates, and acquisition of assets in the names of the applicant and his wife. Statements recorded under Section 50 also supported the prosecution case. On that material, the Court found reasonable grounds to believe the applicant was involved in money laundering and held that the statutory bail conditions under Section 45 were not satisfied. Case-Laws Money Laundering Fri, 04 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461025