2022 (6) TMI 587

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....m-Special Judge under PMLA, Khurdha, Bhubaneswar, registered for the alleged commission of offence under Sections 3 and 4 of Prevention of Money Laundering Act, 2002, has filed this application under Section 439 of Cr.P.C. for his release on bail. 4. The prosecution case, as per the allegation of the said case of ED, M/s Fine Industrious Pvt. Ltd. (FIPL) had collected huge amount from the general public. FIPL transferred the amount to M/s Eva Industries and in turn Eva Industries transferred some amount to M/s Great Entertainment and said M/s Great Entertainment transferred an amount of Rs.25 Crores to the company of the accused namely M/s Lemon Entertainment Ltd, in which the petitioner is a Detector having 8.87% share and that the peti....

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....ustice, deserve no mercy by way of granting the bail. 7. Observing that economic offence is committed with deliberate design with an eye on personal profit regardless to the consequence to the community, in State of Gujarat v. Mohanlal Jitamalji Porwal and others (1987) 2 SCC 364, it was held as under:- "5. ....The entire community is aggrieved if the economic offenders who ruin the economy of the State are not brought to book. A murder may be committed in the heat of moment upon passions being aroused. An economic offence is committed with cool calculation and deliberate design with an eye on personal profit regardless of the consequence to the community. A disregard for the interest of the community can be manifested only at t....

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....n the case of P. Chidambaram vs Directorate Of Enforcement SLP(Crl.) No.7523 of 2019, held that: "82. In a case of money-laundering where it involves many stages of "placement", "layering i.e. funds moved to other institutions to conceal origin" and "interrogation i.e. funds used to acquire various assets", it requires systematic and analysed investigation which would be of great advantage. As held in Anil Sharma, success in such interrogation would elude if the accused knows that he is protected by a pre-arrest bail order....... In the case in hand, there are allegations of laundering the proceeds of the crime. The Enforcement Directorate claims to have certain specific inputs from various sources, including overseas banks. Letter....