TaxTMI 
TaxTMI 
2024 (3) TMI 597
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....3/4 of the Prevention of Money Laundering Act, 2002 (for short "PMLA Act".) 2. Facts of the case, in short, are as under : A complaint was sent from the Office of Collector, Indore in respect of accusation of land-scam done through various Housing Societies in Indore by Dilip Sisodia and others. Various FIRs under the provisions of IPC have already been registered at different Police Stations against Dilip Sisodia and his associates. On the basis of 7 FIRs, the respondent - Directorate of Enforcement registered 4 different ECIRs in respect of Dilip Sisodia @ Deepak Jain; Devi Ahilya Shramik Kamgar Co-operative Society; Trishala Grih Nirman Co-operative Society; Sriram Grih Nirman Co-operative Society. The present applicant is an accused i....
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....laced reliance on the judgment passed by the apex Court in the case of Vijay Madanlal Choudhary V/s. Union of India [SLP (Cr.) No. 4634/2014 decided on 27.7.2022, especially Para 187(v)(d) in which the apex Court has observed that if the person is finally discharged/acquitted of the scheduled offence or the criminal case against him is quashed by the Court of competent jurisdiction, there can be no offence of moneylaundering against him or any one claiming such property being the property linked to stated scheduled offence through him. It is further submitted that the offence u/s. 3 of the PMLA Act is dependent on the illegal gain of the property as a result of criminal activity related to a scheduled offence. In the present case, no such p....
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.... Section 3 of the PMLA Act. It is further submitted that in the entire city, thousands of persons are affected by these frauds in respect of sale of land of various societies by Dilip Sisodia and his associates. Despite various directions issued by the apex Court as well as by this Court, they are not ready to compromise in this matter and not releasing the lands of poor persons who invested their hard earned money to purchase the land. Therefore, if they are released on bail, the poor plot owners will not get possession of their land. The present applicant and other accused are not making serious efforts for settlement in this matter despite several efforts made by co-ordinate Bench of this Court. I have heard the learned counsel for the ....
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....be required to fulfil such twin conditions whilst considering application for grant of bail under Section 438 of the 1973 Code. The relief of bail, be it in the nature of regular bail or anticipatory bail, is circumscribed by the stipulations predicated in Section 45 of the 2002 Act. The underlying principles of Section 45 of the 2002 Act would get triggered in either case before the relief of bail in connection with the offence of money-laundering is taken forward. Any other view would be counterproductive and defeat the purposes and objects behind the stringent provision enacted by the Parliament for prevention of money-laundering and to combat the menace on account of such activity which directly impacts the financial systems, including ....