https://www.taxtmi.com/caselaws?id=781979 HC upheld the petitioner's arrest and rejected the bail application under PMLA in a case involving alleged money laundering of inadmissible/irregular ITC causing loss of Rs. 303.47 crores to the exchequer. HC held that "proceeds of crime" under Section 2(1)(u) PMLA has a broad ambit and that ED had duly complied with Section 19, including recording "reason to believe" and communicating written grounds of arrest, as required by SC precedents. On culpability, HC found prima facie material showing the petitioner's direct involvement in acquisition, possession, concealment and projection of tainted property as untainted, supported by admissible Section 50 statements. Applying the strict twin conditions under Section 45, HC held the petitioner failed to show reasonable grounds of non-guilt or low risk of reoffending, and dismissed the bail plea. en-us Wed, 08 Oct 2025 00:00:00 +0530 Thu, 20 Nov 2025 14:12:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781979 HC upheld the petitioner's arrest and rejected the bail application under PMLA in a case involving alleged money laundering of inadmissible/irregular ITC causing loss of Rs. 303.47 crores to the exchequer. HC held that "proceeds of crime" under Section 2(1)(u) PMLA has a broad ambit and that ED had duly complied with Section 19, including recording "reason to believe" and communicating written grounds of arrest, as required by SC precedents. On culpability, HC found prima facie material showing the petitioner's direct involvement in acquisition, possession, concealment and projection of tainted property as untainted, supported by admissible Section 50 statements. Applying the strict twin conditions under Section 45, HC held the petitioner failed to show reasonable grounds of non-guilt or low risk of reoffending, and dismissed the bail plea. Case-Laws Money Laundering Wed, 08 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781979