2022 (1) TMI 974

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....: This Criminal Petition under Sections 437 and 439 Cr.P.C. is filed by petitioner - Accused in ECIR No.ECIR/HYZO/22/2021 dated 2021 of Directorate of Enforcement, registered for the offence punishable under Section 3 of the Prevention of Money Laundering Act, 2002 (for short "PML Act"). 2. The case of the prosecution is that petitioner was summoned on 26.11.2021 and his statement was record....

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....cused persons in the offence of generation of proceeds of crime and its layering and concealment by remitting the same to obscure entities in Hong Kong and thus involved in the offence of money laundering, as such he is liable for punishment under Section 19 of PML Act.   3. Heard Sri L.Ravichander, learned senior counsel representing Sri Apurva M.Gokhale, learned counsel for petitioner an....

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....d in the offence of money laundering. He submits that it is the case of prosecution that petitioner is not disclosing the role played by SBI staff in doing these remittances which at first glance itself appear completely doubtful. Learned senior counsel submits that petitioner was arrested on 27.11.2021 and for more than 30 days, he is languishing in jail. He submits that ED authorities sought for....

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....edly, petitioner was arrested on 27.11.2021 and custody of petitioner was also sought for five days and the only allegation against the petitioner is that being a Chartered Accountant, without verifying the Bills of Entry and economic rationale of such large payments from paper entities had issued the certificates. Admittedly, as of now the other accused are not arrested and the contention of lear....