TaxTMI 
TaxTMI 
TaxTMI 
2022 (6) TMI 1213
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....ed under Section 4 of the Prevention of Money Laundering Act, 2002 (hereinafter to be referred as "the Act, 2002") pending in the court of learned Special Judge, C.B.I.-cum-PMLA, Ranchi. 3. Learned counsel for the applicant has submitted that the present case was instituted on the basis of complaint filed by Assistant Director (PMLA), Directorate of Enforcement under Section 44 read with Section 45 of the Act, 2002 for the offence under Section 4 of the said Act with these allegations that M.S.S. & Health Care Ayurvedic Trust (in short "Trust") was created under a trust deed 16th May, 2007 between the Settler and the Trustees. The present applicant-Hemant Kumar Sinha was the Chief Secretary of the trust and it was alleged that the trust wa....
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....of Rs.50 lakhs was made on 16th March, 2009 in the bank account of M.S.S. & Health Care Ayurvedic Trust. On scrutiny of bank account maintained at Union of Bank of India, Lohardaga, Branch, it is found that regular cash deposits multiple times in a single day more than 50 cash deposits transaction at times in a single day was made. There were two transfers of Rs.60 lacs and 70 lacs on 19th June, 2010 and 9th August, 2010 respectively was made in the bank account of the trust. Likewise in bank account maintained at Bank of Baroda, Ranchi Main Branch, Bank of Baroda, Harmu Branch, Ranchi, Bank of Baroda, Hazaribag Branch, Bank of Baroda, Ramgarh Cant. Branch, Ramgarh and Bank of Baroda, Patna Branch, Patna frequent cash deposit along with man....
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....t Hemant Kumar Sinha was arrested on 13th August, 2010 in Doranda (Argora) P.S. Case No.281 of 2010 and was granted bail vide order dated 05.10.2010 passed in B.A. No.7357 of 2010. 4. Learned counsel for the applicant has submitted that the applicant was not trustee of the said trust as alleged. He was employee of the same and worked as Chief Secretary of the trust. He had never misused the privilege of bail granted to him in Doranda (Argora) P.S. Case No.281 of 2010. The applicant is a heart patient and had undergone surgery and is not having good health and he undertakes to abide all the conditions on being enlarged on bail. It is further submitted that co-accused persons, namely, Rakesh Kumar Poddar and Mukesh Kumar Poddar have already ....
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....es:- "(y) "scheduled offence" means - (i) the offences specified under Part A of the Schedule; or [(ii) the offences specified under Part B of the Schedule if the total value involved in such offences is [one crore rupees] or more; or (iii) the offences specified under Part C of the Schedule;]" Sections 3 and 4 of the Act, 2002 provides as under:- "3. Offence of money-laundering - Whosoever directly or indirectly attempts to indulged or knowingly assists or knowingly is a party or is actually involved in any process or activity connected with the [proceeds of crime including its concealment, possession, acquisition or use and projecting or claiming] it as untainted property shall be guilty of offence of money laundering. 4. Pu....
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....urt in the case of Nikesh Tarachand Shah (supra) was amended by Act 13 of 2018. Consequently, the presumption in regard to the constitutionality of the Section 45 of the Act, 2002 would be raised. It is further submitted that the amendment in Section 45 of the said act is under consideration before the Hon'ble Apex Court but the amended provision has not been stayed by the said Court, therefore, the same will be applied while considering the bail application of the applicant. 9. This Court is of the considered view that the provisions of Section 45 of the Act, 2002 prior to judgment of Hon'ble Apex Court in the case of Nikesh Tarachand Shah (supra) was declared unconstitutional; but the defects of provisions of the said act was cured by th....
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....f Enforcement reported in 2021 SCC Online P & H 1567 has held as under :- "...............18. By Act 13 of 2018 Section 45(1) of the PMLA was sought to be amended w.e.f. 19.04.2018. Through such amendment the words "punishable for a term of imprisonment of more than three years under Part A of the Schedule" as occurring in Section 45(1) before the judgment of the Supreme Court in Nikesh Tarachand Shah's case (supra) were substituted with the words "under this Act". As per learned ASG, after such amendment, the defect on the basis of which the Supreme Court had declared Section 45(1) of the PMLA to be unconstitutional was cured and consequently the twin conditions prescribed in Section 45(1) stood revived. 14. The Hon'ble Apex Court in th....