2023 (9) TMI 1456

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....1 / 15 dated 30.03.2015, for offence alleged under section 45 of the Prevention of Money Laundering Act, 2002 (hereinafter referred to as 'P.M.L.Act'), in which, cognizance has been taken against him and other co-accused for the offence punishable under Section 4 of the P.M.L.Act. 3. The prosecution case, in brief, is that the complainant, who is Assistant Director (Enforcement Directorate), Patna, filed a complaint under Section 45 read with Section 44 of P.M.L.Act against accused persons under Sections 419, 420, 467, 468, 471, & 120B of the Indian Penal Code read with Sections 66, 72 & 75 of the Information & Technology Act, on the basis of Gandhi Maidan P.S. Case No. 244 of 2014 and subsequently, chargesheet was filed against the accu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ame as untainted and thus, has committed the offence of money laundering, as defined under Section 3 of the P.M.L.Act r/w Section 70 of P.M.L.Act and punishable under Section 4 of the P.M.L.Act. 5. It is submitted by learned counsel for the petitioner that petitioner is not named in the F.I.R. and his name has surfaced during course of investigation on the basis of confessional statement of co-accused Sunil Kumar before the police, which has got no evidentiary value. Petitioner is an established businessman of Siwan, having higher reputation in the society. Petitioner is an Income Tax Assessee, who has also PAN number and he has paid Rs. 6,79,90.21 for the annual year 2011-12. Similarly, the petitioner has also paid sales tax for the fin....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....arned counsel appearing on behalf of opposite party / E.D. vehemently opposes the prayer for anticipatory bail of petitioner and submits that during course of investigation, it was revealed that the amount which was deposited by co-accused Ranjeet Kumar Mandal to the tune of Rs. 1,08,53,400/- during the period from 23.04.2014 to 17.06.2014 in the name of this petitioner. Therefore, it is evident that the petitioner has acquired proceeds of crime by disguising the same in the form of supply of iron bars and hence he has committed the offence of money laundering. It is further submitted that further investigation is going on, not to establish the role of the petitioner in offence of money laundering, but to trace the proceeds of crime, which ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... We may reiterate that the reference arose out of statutory jurisdiction and not constitutional jurisdiction of this Court. Unless there is proper challenge and pleadings, the issue of constitutional validity cannot be undertaken. Undoubtedly, the Legislature has power and competence to amend the provisions of the Act. Unless the amended provision is struck down by the Courts, it cannot be watered down. Since after the amendment the entire complexion of section 45 has been changed, we are not in agreement with the contention that the entire section has to be reenacted by way of amendment after decision in the case of Nikesh Shah (Supra). Therefore, in our opinion, the twin conditions would revive and operate by virtue of Amendment Act, whic....