Corporate Money Laundering Case: Bail Granted Due to Insufficient Evidence and Lack of Direct Involvement in Predicate Offence

Corporate Money Laundering Case: Bail Granted Due to Insufficient Evidence and Lack of Direct Involvement in Predicate Offence https://www.taxtmi.com/highlights?id=89180 HC granted bail in money laundering case involving corporate resolution plan. Court found insufficient evidence to deny bail, noting: (1) applicant not named in original charge sheet, (2) predicate offence not conclusively established, (3) main alleged beneficiary remains unarrested, and (4) co-accused with similar alleged role already granted bail. Court emphasized bail as default principle and ordered release upon furnishing personal bond of Rs. 1 lakh with two similar sureties, subject to standard bail conditions. The bail order underscores procedural fairness and requirement of substantive evidence in economic offence proceedings under PMLA. en-us Sat, 07 Jun 2025 08:32:51 +0530 Sat, 07 Jun 2025 08:32:53 +0530 TaxTMI RSS Generator Corporate Money Laundering Case: Bail Granted Due to Insufficient Evidence and Lack of Direct Involvement in Predicate Offence https://www.taxtmi.com/highlights?id=89180 HC granted bail in money laundering case involving corporate resolution plan. Court found insufficient evidence to deny bail, noting: (1) applicant not named in original charge sheet, (2) predicate offence not conclusively established, (3) main alleged beneficiary remains unarrested, and (4) co-accused with similar alleged role already granted bail. Court emphasized bail as default principle and ordered release upon furnishing personal bond of Rs. 1 lakh with two similar sureties, subject to standard bail conditions. The bail order underscores procedural fairness and requirement of substantive evidence in economic offence proceedings under PMLA. Highlights Money Laundering Sat, 07 Jun 2025 08:32:51 +0530 https://www.taxtmi.com/highlights?id=89180