TaxTMI 
TaxTMI 
2019 (8) TMI 1137
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...., Advocates O R D E R Petitioner seeks pre-arrest bail in ECIR /15/DLZO/2014 of 3rd July, 2014, registered by respondent under Sections 3 & 4 of the Prevention of Money Laundering Act, 2002 (henceforth referred to as the 'PMLA') while claiming to be innocent. Learned senior counsel for petitioner submits that in the complaint filed (after due investigation) in November, 2014, petitioner's name does not appear. It was pointed out that even in the four supplementary complaints filed in the years 2016 to 2019, name of petitioner does not figure. It was submitted that it is only in the fifth supplementary complaint filed in May, 2019, name of petitioner finds mention. It was submitted that statement of petitioner under Section 50 of the P....
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.... the basis to assert that petitioner has not cooperated with the investigation. Learned senior counsel for petitioner submitted that the punishment for the offence in question is upto seven years and Section 19 of PMLA provides that to arrest an accused under the PMLA, there has to be reason to believe (to be recorded in writing) that such person is guilty of the offences punishable under the PMLA. It was pointed out that arrest under the Code of Criminal Procedure is on suspicion, whereas to arrest a person under the PMLA, it has to be shown that a person is guilty of the offence alleged. It was next submitted by learned senior counsel for petitioner that facts noticed in paragraph No. 4 of order of 6th August, 2019 of the Session's cou....
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....headed by Christian Michel James and the other by Guido Haschke and Carlo Gerosa. To highlight the extent and magnitude of money laundering, attention of this Court was drawn by learned ASG to various paragraphs of the reply and it was submitted that the offence committed by petitioner adversely affects the economy of country. It was submitted that attachment of petitioner's property by Income Tax Authorities in different proceedings cannot be a yard stick to dilute the gravity of offence committed by petitioner. It was pointed out that though petitioner had joined the investigation but is evasive in his replies and so, custodial interrogation of petitioner is required for an effective investigation. It was asserted by learned ASG that peti....
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....s and on perusal of material on record and the decisions cited, I find that severity of the punishment alone cannot be the criteria to determine as to whether bail has to be granted or not. Gravity of the offence is a relevant criteria which has to be considered while granting or refusing the bail. During the course of hearing, reliance was placed by learned ASG upon Section 265-A of Cr.P.C. to urge that in an offence punishable with term up to seven years, 'plea bargaining' can be entertained, is misplaced as proviso to Sub-Section (1) (b) of Section 265-A of Cr.P.C. contains a rider that 'plea bargaining' is not available where the offence committed affects socio and economic conditions of the country. A bare perusal of petitioner's state....