https://www.taxtmi.com/news?id=71731 Bail was refused in a money laundering prosecution under the Prevention of Money Laundering Act where the court found sufficient material linking the accused to the offence and treated the recorded PMLA statements as forming a formidable case. The court observed that economic offences pose a serious threat to the financial health of the country and that the gravity, seriousness and magnitude of the alleged conduct, along with the accused's major role, weighed against release on bail. Partial repayment did not discharge criminal liability, and the absence of an explanation for the alleged double mortgage remained relevant at the bail stage. en-us Wed, 25 Mar 2026 08:31:05 +0530 Wed, 25 Mar 2026 08:31:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=71731 Bail was refused in a money laundering prosecution under the Prevention of Money Laundering Act where the court found sufficient material linking the accused to the offence and treated the recorded PMLA statements as forming a formidable case. The court observed that economic offences pose a serious threat to the financial health of the country and that the gravity, seriousness and magnitude of the alleged conduct, along with the accused's major role, weighed against release on bail. Partial repayment did not discharge criminal liability, and the absence of an explanation for the alleged double mortgage remained relevant at the bail stage. News - Wed, 25 Mar 2026 08:31:05 +0530 https://www.taxtmi.com/news?id=71731