TaxTMI 
TaxTMI 
2024 (5) TMI 525
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....ted by recording an ECIR bearing no. 3/2022 based on the FIR no. 85/2020 dt. 22.06.2020 of one Sambhu Nandan Kumar at Barharwa Police Station, Distt-Sahebganj, Jharkhand against accused Pankaj Mishra and others. It is alleged that the accused persons threatened the above complainant over the phone not to participate in the tender of Barharwa Toll, and on the refusal of which the complainant was attacked by a mob, on the behest of the accused persons. Subsequently, the charge sheet no. 231/2020 dated 30.11.2020 was filed in the court at Rajmahal, Distt Sahebganj. Further, the agency took several other FIRs related to the matter along with the above case to investigate the instant case. It was revealed during the investigation that the vehicles carrying the mined items (Mainly stone chips) had to cross Barharwa Toll before reaching the main roads. It was also revealed that apart from mining under valid licenses, a vast quantity of mining is being carried out illegally in Sahibganj District and adjoining areas. It also revealed that the accused person, Pankaj Mishra, is involved in the illegal collection of levies from the trucks carrying stone chips through his accomplices and als....
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.... Yatayat Samiti, Sahebganj. The total POC involved in the tender was Rs.8.5 crores. It is further alleged that the operations of the said Samiti is directly controlled by co-accused Pankaj Mishra and Dahu Yadav as well as the present petitioner. In the instant case, these accused persons have knowingly acquired and possessed the proceeds of crime in such a manner as if it was untainted money; they also trying to project the said ill-gotten money/proceeds of crime as untainted. Further, it has been alleged that the accused petitioner has not only received the huge amount in illegal way earned through illegal mining, trade and transportation of stone chips etc. but also came in possession of such "proceeds of crime" and now claiming the same as untainted. The present petitioner had been arrested and accordingly the petitioner had preferred the Misc. Cri. Application No.2813 of 2023 for grant of his bail but the same was dismissed vide order dated 07.10.2023 by the learned Spl. Judge, PML Act, Ranchi. Hence the present petition has been preferred for the grant of bail. Argument on behalf of the learned counsel for the petitioner : 3. Mr. S. Nagamuthu, learned senior cou....
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....riminal Appeal No. 2779 of 2023, particularly paragraphs-17 and 29 thereof. ix. Learned counsel for the petitioner has also taken the ground of parity since one of the co-accused persons, namely, Pashupati Yadav has been directed to be released on bail by the order passed by the co-ordinate Bench of this Court. 4. Learned counsel for the petitioner based upon the aforesaid ground has submitted that the learned court while considering the prayer for bail ought to have taken into consideration all these aspects of the matter both legal and factual but having not done so, serious error has been committed. 5. Further submission has been made in the aforesaid view of the matter as per the ground agitated, it is a fit case where the petitioner is to be given the privilege of bail. Argument on behalf of the learned counsel for the respondent-ED: 6. While on the other hand, Mr. Anil Kumar, learned Additional Solicitor General of India for the opposite party-Enforcement Directorate has vehemently opposed the prayer for grant of regular bail by taking the following grounds: (i) It is incorrect on the part of the petitioner to take the ground that the case is of ....
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....of the petitioner then the requirement will be to consider the involvement of the present petitioner with the involvement of Pashupati Yadav, Pankaj Mishra and Prem Prakash so as to come to the conclusion while granting the benefit of parity by assessing the involvement of the present petitioner with the involvement of accused persons whose prayer for bail has been denied and the accused person whose prayer for bail has been allowed. (ix) The contention has been made that Pankaj Mishra is the person who is in the helms of the affairs of illegal mining and the present petitioner is his close associate. Further, the complicity has also been shown against the Prem Prakash whose bail application has already been rejected. 7. Learned ASGI for the opposite party-ED, based upon the aforesaid grounds, has submitted that since the nature of allegation committed by the present petitioner is identical to that of Pankaj Mishra to the extent that he has been found to be a close associate while against Pashupati Yadav no such allegation is there, as such, the instant bail application is fit to be rejected. Analysis 8. This Court, before appreciating the argument advanced on beh....
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.... by the international community to obviate such threat are outlined below:- (a) the United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, to which India is a party, calls for prevention of laundering of proceeds of drug crimes and other connected activities and confiscation of proceeds derived from such offence. (b) the Basle Statement of Principles, enunciated in 1989, outlined basic policies and procedures that banks should follow in order to assist the law enforcement agencies in tackling the problem of money-laundering. (c) the Financial Action Task Force established at the summit of seven major industrial nations, held in Paris from 14th to 16th July, 1989, to examine the problem of money-laundering has made forty recommendations, which provide the foundation material forcomprehensive legislation to combat the problem of money-laundering. The recommendations were classified under various heads. Some of the important heads are- (i) declaration of laundering of monies carried through serious crimes a criminal offence; (ii) to work out modalities of disclosure by financial institutions regardi....
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....equivalent in value held within the country or abroad. 13. In the explanation it has been referred that for the removal of doubts, it is hereby clarified that "proceeds of crime" include property not only derived or obtained from the scheduled offence but also any property which may directly or indirectly be derived or obtained as a result of any criminal activity relatable to the scheduled offence. The aforesaid explanation has been inserted in the statute book by way of Act 23 of 2019. 14. It is, thus, evident that the reason for giving explanation under Section 2(1)(u) is by way of clarification to the effect that whether as per the substantive provision of Section 2(1)(u), the property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence or the value of any such property or where such property is taken or held outside the country but by way of explanation the proceeds of crime has been given broader implication by including property not only derived or obtained from the scheduled offence but also any property which may directly or indirectly be derived or obtained as a result of any criminal activity r....
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....alment or possession or acquisition or use or projecting it as untainted property or claiming it as untainted property in any manner whatsoever.]" 19. It is evident from the aforesaid provision that "offence of money-laundering" means whosoever directly or indirectly attempts to indulge 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. 20. It is further evident that the process or activity connected with proceeds of crime is a continuing activity and continues till such time a person is directly or indirectly enjoying the proceeds of crime by its concealment or possession or acquisition or use or projecting it as untainted property or claiming it as untainted property in any manner whatsoever. 21. The punishment for money laundering has been provided under Section 4 of the Act, 2002. 30. Section 50 of the Act, 2002 confers power upon the authorities regarding summons, production of documents and to give evidence. For ready reference, Se....
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....into consideration the object and intent of the Act, 2002. 23. The interpretation of the condition which is to be fulfilled while arresting the person involved in the predicate offence has been made as would appear from paragraph265. For ready reference, relevant paragraphs are being referred as under: "265. To put it differently, the section as it stood prior to 2019 had itself incorporated the expression "including", which is indicative of reference made to the different process or activity connected with the proceeds of crime. Thus, the principal provision (as also the Explanation) predicates that if a person is found to be directly or indirectly involved in any process or activity connected with the proceeds of crime must be held guilty of offence of moneylaundering. If the interpretation set forth by the petitioners was to be accepted, it would follow that it is only upon projecting or claiming the property in question as untainted property, the offence would be complete. This would undermine the efficacy of the legislative intent behind Section 3 of the Act and also will be in disregard of the view expressed by the FATF in connection with the occurrence of the wor....
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....b-section (1). This is in reference to Section 13 of the 2002 Act dealing with powers of Director to impose fine in respect of acts of commission and omission by the banking companies, financial institutions and intermediaries. From the setting in which Section 50 has been placed and the expanse of empowering the Director with same powers as are vested in a civil Court for the purposes of imposing fine under Section 13, is obviously very specific and not otherwise. 425. Indeed, sub-section (2) of Section 50 enables the Director, Additional Director, Joint Director, Deputy Director or Assistant Director to issue summon to any person whose attendance he considers necessary for giving evidence or to produce any records during the course of any investigation or proceeding under this Act. We have already highlighted the width of expression "proceeding" in the earlier part of this judgment and held that it applies to proceeding before the Adjudicating Authority or the Special Court, as the case may be. Nevertheless, sub-section (2) empowers the authorised officials to issue summon to any person. We fail to understand as to how Article 20(3) would come into play in respect of pro....
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....ection 119 of the Evidence Act) or the like. "To be a witness" is nothing more than "to furnish evidence", and such evidence can be furnished through the lips or by production of a thing or of a document or in other modes. So far as production of documents is concerned, no doubt Section 139 of the Evidence Act says that a person producing a document on summons is not a witness. But that section is meant to regulate the right of cross examination. It is not a guide to the connotation of the word "witness", which must be understood in its natural sense, i.e., as referring to a person who furnishes evidence. Indeed, every positive volitional act which furnishes evidence is testimony, and testimonial compulsion connotes coercion which procures the positive volitional evidentiary acts of the person, as opposed to the negative attitude of silence or submission on his part. Nor is there any reason to think that the protection in respect of the evidence so procured is confined to what transpires at the trial in the court room. The phrase used in article 20(3) is "to be a witness" and not to "appear as a witness". It follows that the protection afforded to an accused in so far as it is rela....
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....is of other material and evidence, the involvement of such person (noticee) is revealed, the authorised officials can certainly proceed against him for his acts of commission or omission. In such a situation, at the stage of issue of summons, the person cannot claim protection under Article 20(3) of the Constitution. However, if his/her statement is recorded after a formal arrest by the ED official, the consequences of Article 20(3) or Section 25 of the Evidence Act may come into play to urge that the same being in the nature of confession, shall not be proved against him. Further, it would not preclude the prosecution from proceeding against such a person including for consequences under Section 63 of the 2002 Act on the basis of other tangible material to indicate the falsity of his claim. That would be a matter of rule of evidence. 434. It is, thus, clear that the power invested in the officials is one for conducting inquiry into the matters relevant for ascertaining existence of proceeds of crime and the involvement of persons in the process or activity connected therewith so as to initiate appropriate action against such person including of seizure, attachment and con....
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....limitations under the Code of Criminal Procedure, 1973 or any other law for the time being in force on granting of bail. The explanation is also there as under sub-section (2) thereof which is for the purpose of removal of doubts. A clarification has been inserted that the expression "Offences to be cognizable and non-bailable" shall mean and shall be deemed to have always meant that all offences under this Act shall be cognizable offences and non-bailable offences notwithstanding anything to the contrary contained in the Code of Criminal Procedure, 1973, and accordingly, the officers authorised under this Act are empowered to arrest an accused without warrant, subject to the fulfilment of conditions under section 19 and subject to the conditions enshrined under this section. 29. The fact about the implication of Section 45 has been interpreted by the Hon'ble Apex Court in Vijay Madanlal Choudhary and Ors. Vs. Union of India and Ors. (supra) at paragraphs-372-374. For ready reference, the said paragraphs are being referred as under: "372. Section 45 has been amended vide Act 20 of 2005, Act 13 of 2018 and Finance (No. 2) Act, 2019. The provision as it obtained prior ....
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....asonable grounds for believing that the accused is not guilty of such offence and he is not likely to commit any offence while on bail. It has further been observed that as per the statutory presumption permitted under Section 24 of the Act, the Court or the Authority is entitled to presume unless the contrary is proved, that in any proceedings relating to proceeds of crime under the Act, in the case of a person charged with the offence of money laundering under Section 3, such proceeds of crime are involved in money laundering. Such conditions enumerated in Section 45 of PML Act will have to be complied with even in respect of an application for bail made under Section 439 Cr. P.C. in view of the overriding effect given to the PML Act over the other law for the time being in force, under Section 71 of the PML Act. For ready reference, paragraph-17 of the said judgment is quoted as under : "17. As well settled by now, the conditions specified under Section 45 are mandatory. They need to be complied with. The Court is required to be satisfied that there are reasonable grounds for believing that the accused is not guilty of such offence and he is not likely to commit any off....
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....or for that matter, by invoking the jurisdiction of the Constitutional Court, the underlying principles and rigors of Section 45 of the 2002 must come into play and without exception ought to be reckoned to uphold the objectives of the 2002 Act, which is a special legislation providing for stringent regulatory measures for combating the menace of money-laundering. 33. The Hon'ble Apex Court in the case of Gautam Kundu vs. Directorate of Enforcement (Prevention of Money-Laundering Act), Government of India through Manoj Kumar, Assistant Director, Eastern Region, (2015) 16 SCC 1 has been pleased to hold at paragraph -30 that the conditions specified under Section 45 of PMLA are mandatory and need to be complied with, which is further strengthened by the provisions of Section 65 and also Section 71 of PMLA. Section 65 requires that the provisions of Cr.P.C shall apply insofar as they are not inconsistent with the provisions of this Act and Section 71 provides that the provisions of PMLA shall have overriding effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force. PMLA has an overriding effect and the provisions of CrPC would ap....
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....as to come to the conclusion as to whether the parameter as fixed under Section 451(i)(ii) of the PMLA is being fulfilled in order to reach to the conclusion that it is a fit case where regular bail is to be granted or not. Relevant paragraphs of supplementary prosecution complaint are referred herein : 1.6 Moreover, in accordance with the report submitted to the Hon'ble NGT, it is explicitly stated that 125 FIRs have been filed against various persons for offences related to illegal mining, storage, and transportation. This Directorate has also identified certain FIRs in connection with illegal mining and transportation activities during the aforementioned period, with 50 of these FIRs detailed in Paragraph No. 3.4 of the Prosecution Complaint dated 16.09.2022, which have also been relied upon by the Directorate during the investigation and in supplementary prosecution complaint. Brief Facts of the offence/allegation/charge/amount involved under PMLA 3.6 During the course of the investigation, the FIR(s) mentioned in Paragraph No. 1.2 of this Prosecution Complaint were also identified to be lodged against the accused namely Pashupati Yadav (Accused N....
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.... Sahebganj Mirza-Chowki Road), 816109 as well as at business premises of the accused at Hotel White House, Shibganj, Bengali Tola Road, near Railway Station, Sahebganj, Jharkhand 816109. During the course of the above stated searches, in total Cash amounting to Rs 5,34,44,400/ was seized, bank balances amounting to Rs 13,32,26,570/-, an inland vessel MN Infralink -III, having registration number WB 1809, along with 5 number of crushers were frozen under Section 17 of PMLA. In addition to these two trucks were also seized During the above searches, several incriminating documents/records and digital devices were also seized. The details of the above seized items and frozen properties have been mentioned in paragraph 7 of the Prosecution Complaint dated 16.09.2022 which includes the seizure from the residential premise under the occupation present accused Surul Yadav situated at Shobhanpur Bhatta, Sahebganj, Kali Mandir (Situated between Sahebganj Mirza- Chowki Road), 816109. 7.3 Further during the investigation, During the investigation the accused Sunil Yadav was also summoned under Section 50 of PMLA, 2002 on 28.07.2022, 16.08.2022 and 01.09.2022 for the purpose of invest....
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....ortation through his inland vessels. 8.3 The statement of Shri Mukesh Yadav (RUD No. 51 of PC dated 16.09.2022) (one resident of Sahebganj who was threatened by the accused person) S/o Shri Paramanand Yadav was recorded on 07.06.2022 u/s 50(2) of PMLA, 2002 He has stated that Dahu Yadav and Bachchu Yadav are people of criminal character, against whom dozens of criminal cases are registered and there are dozens of armed associates in their gang and the business of Dahu Yadav and Bachhu Yadav is to run ships day and night from Garam Ghat, through which illegal stone-laden trucks are transported Trucks laden with stone chips are charged more than the prescribed fare, with overloaded trucks crossing the ship without challan, which is also transported by słup during nighttime Pankaj Mishra is involved in extortion, and he takes advantage of his hold in the police administration for illegal recovery He has further stated in his statement that on 14.03.2022 the abovesaid persons along with Sunil Yadav started firing at him and one person Ankush Rajhans when they were taking their vessel to participate in auction at Maniharı Ghat, Katihar Bihar. Investigation ha....
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.... 8.6 Statement of Sunil Yadav dated 18.10.2023 -The custody of the accused person was granted by the court vide the order of the Hon'ble High Court dated 17.10.2023. The statement of the accused person recorded on 18.10.2023 and 19.10.2023 recorded by explaining the provisions of section 50 of PMLA, 2002 reveals that he was associated with the transportation activities under Singhwahını Transports and Logistics. The vessels operating under this firm were involved in transporting stone laden trucks from Sahebganj to Bihar The accused person and his brother Rajesh Yadav Dahu Yadav took the cash from those truck operators in lieu of passing them to Bihar, having knowledge that the said trucks did not have mining challans. His statement further reveals that the money deposited into his bank account as well as in the account of Singhwahını Transport and Logistics has been derived from the activities linked to the transportation of stone laden trucks through cargo vessels. His statement also reveals that the activity on the Ghats were also looked after by Bachhu Yadav (accused no. 2) and Rajesh Yadav @ Dahu Yadav. His statement under section 50 of PMLA, 2002 also ....
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....- Further, the investigation has also revealed that the said cash deposit of Rs. 20,67,54,220/- into the accounts of the accused person and the accused firm M/s Singhwahini Transports and Logistics have been deposited in the account and further a majority of the cash has been shown in the I.T returns. In fact, the said amount of money deposited in cash was acquired out of the activities relating to the illegal transportation of the stone chips and related criminal activities and declaring them into the I.T returns is only an attempt to claim and project the proceeds of crime as untainted properties. Brief summary of result of investigation under PMLA 10.3 Pankaj Mishra, along with his accomplices, exercises control over stone mining, the setup and operation of several crushers, and the illegal transportation of stone chips via trucks and inland vessels in Sahebganj. They have a fixed share in nearly all the mining and transportation activities carried out by various individuals, including their associates. Pankaj Mishra wields political influence as the representative of the Chief Minister of Jharkhand and MLA from Barhait, Sahebganj. The accused persons mentioned....
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....ll be read in concurrence. A. Sunil Yadav, accused no. 8- The accused Sunil Yadav is a partner of accused no 9, Singhwahını Transport and Logistics and the authorized signatory of its bank accounts. The accused person in association with accused no. 9, M/s Singhwahini Transport and Logistics is directly a party and is knowingly involved in the activities linked with proceeds of crime The accused person is directly linked to the acquisition of proceeds of crime amounting in cash worth Rs. 20,87,80,720/-in the bank accounts linked to him as well as cash amounting to Rs 4,28,81,865/- which was directly used for payment of tender of the ferry services with Nazır, Collectorate, Katihar On the strength of the said tender and the agreement with Sahebganj Naav Yaatayat Sahyog Samiti Limited, the accused person further indulged in illegal transportation on the stone laden trucks through cargo vessels without desired mining challans. The accused person directly acquired proceeds of crime amounting to Rs. 4,38,65,734/ in bank accounts which were non cash credits and linked to the activities of the illegal operations of the cargo vessels. Thus, the accused pers....
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....d no 2 namely Bachhu Yadav and the absconded accused person Rajesh Yadav Dahu Yadav in transportation of illegally mined stone laden trucks through cargo vessels which were transported without any valid mining/transportation challans. The proceeds were laundered and used through the accused person showing it as a legal entity and was used as cover to operate the illegal busines 20 of stone chips transportation. Hence, the accused is directly a party with the above stated accused persons in activities connected with proceeds of crime including its acquisition, use, concealment and projection of tainted property as untainted property and hence, is guilty of the offence of money laundering as defined under section 3 r/w Section 70 of PMLA, 2002 and as such is liable to be punished under section 4 of PMLA, 2002. 37. It is evident from supplementary prosecution complaint that 125 FIRS have been Lodged against various persons for the offence of illegal mining, storage, and transportation. The Directorate has also identified 50 FIRS under various sections including sections 411, 414 of IPC, as well as for offences under section 3, 4, 5 of explosive substance Act, 1908 and Sect....
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.... are crossed through these inland vessels without mining challans. These stone chips are mined illegally and are undeclared to the government for evading royalty on them. During searches, registers containing the details of the vehicles, no. of trips, payment collected from these trucks in cash in lieu of illegal transportation have also been seized. The details of the vehicles have been cross-verified from the District Mining Officer and the illegal transportation of the stone chips have been confirmed. Thus, the investigation has revealed that there is connivance of the petitioner with Pankaj Mishra and Rajesh Yadav & Dahu Yadav in the illegal activities connected with the proceeds of crime derived out of illegal mining activities and the said petitioner is facilitating the accused person Pankaj Mishra to run the business of extortion illegal mining and transportation activities in Sahebganj. Besides this, heavy levy is extorted forcefully from transport vehicles operating in these mining areas, for allowing them to transport the mined stones and other items. It has also come on record that the Petitioner has criminal antecedents and is a habitual offender, as mentioned in Par....
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.... cross-verified from the District Mining Officer and the illegal transportation of the stone chips have been confirmed. Thus, the investigation has revealed that there is connivance of the petitioner Sunil Yadav with Pankaj Mishra and Rajesh Yadav @ Dahu Yadav in the illegal activities connected with the proceeds of crime derived out of illegal mining activities. 42. Thus, from aforesaid imputation and discussion prima-facie it appears that the involvement of present petitioner in alleged crime cannot be lightly brushed out. 43. Now coming to the contentions as raised by the learned counsel for the petitioner wherein he has taken the ground that the petitioner is not accused in the predicate offence, hence cannot be made liable for money laundering offence. But the contention of the learned counsel appears to be misplaced because the offence of money Laundering is independent of the scheduled offence, particularly in matters related to the proceeds of crime. 44. At this juncture it will be purposeful to discuss the core of section 3 of PML Act, 2002. Section 3 of the Act 2002, addresses itself to three things (i) person; (ii) process or activity; and (iii) product. Insofar....
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....ved, lies on the appellant. 48. So far as the ground taken on behalf of the petitioner that no predicate offence is said to be committed is concerned, while considering the argument advanced on behalf of the opposite party-ED this Court is of thew that the FIRs were directed to be registered by the NGT, has also been brought under the purview of the enquiry by the ED wherefrom when the material was collected of illegal mining, hence, a case under Section 411 and 414 of Indian Penal Code (IPC) were instituted. These offences are well within the fold of the scheduled offence, hence, by taking into consideration the aforesaid material to the extent that the offence under Section 411/414 of Indian Penal Code has been found to be there, as such, the argument which has been advanced that there is no schedule offence, is not fit to be accepted. 49. Further the offence of money laundering as contemplated in Section 3 of the PMLA has been elaborately dealt with by the three Judge Bench in Vijay Madanlal Choudhary (supra), in which it has been observed that Section 3 has a wider reach. The offence as defined captures every process and activity in dealing with the proceeds of crime, dir....
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....of a FIR for a predicate offence, ED will be accused of acting in haste. If they wait until the story unfolds up to a particular stage, ED will be attacked as guilty of delay. Therefore, all the arguments on facts and all the legal contentions emanating from some portions of the judgment in Vijay Madanlal Choudhary (supra), to challenge the validity of the proceedings initiated by ED are completely unsustainable. 53. So far as the facts of the present case are concerned, the respondent ED has placed heavy reliance on the statements of witnesses recorded and the documents produced by them under Section 50 of the said Act, to prima facie show the involvement of petitioner in the alleged offence of money laundering under Section 3 thereof. 54. The three Judge Bench the Hon'ble Apex Court in the case of Rohit Tandon vs. Directorate of Enforcement (2018) 11 SCC 46 has held that the statements of witnesses recorded by Prosecution - ED are admissible in evidence in view of Section 50. Such statements may make out a formidable case about the involvement of the accused in the commission of the offence of money laundering 55. In the instant case, it has been found that during the co....
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....epetition, it is pertinent to mention here that the offence of money laundering under Section 3 of the Act is an independent offence regarding the process or activity connected with the proceeds of crime which had been derived or obtained as a result of criminal activity relating to or in relation to a scheduled offence. The offence of money laundering is not dependent or linked to the date on which the scheduled offence or predicate offence has been committed. The relevant date is the date on which the person indulges in the process or activity connected with the proceeds of crime. Thus, the involvement of the person in any of the criminal activities like concealment, possession, acquisition, use of proceeds of crime as much as projecting it as untainted property or claiming it to be so, would constitute the offence of money laundering under Section 3 of the Act. Reference in this regard may be taken from the judgment as rendered by the Hon'ble Supreme Court in the case of Tarun kumar vs. Assistant Director, directorate of Enforcement (supra). 60. Thus, on the basis of the discussion made hereinabove the contention of the learned counsel for the petitioner that even if the enti....
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....ing paragraphs that Section 45 of the PMLA Act, 2002 provides twin test. First 'reason to believe' is to be there for the purpose of reaching to the conclusion that there is no prima facie case and second condition is that the accused is not likely to commit any offence while on bail. 68. Sub-section (1)(ii) of Section 45 of the Act, 2002, provides that if the Public Prosecutor opposes the application, the court is satisfied that there are reasonable grounds for believing that he is not guilty of such offence and that he is not likely to commit any offence while on bail, meaning thereby, the parameter which is to be followed by the concerned court that satisfaction is required to be there for believing that such accused person is not guilty of such offence and is not likely to commit of offence while on bail. 69. Section 45(2) provides to consider the limitation for grant of bail which is in addition the limitation under the Code of Criminal Procedure, 1973, i.e., limitation which is to be considered while granting the benefit either in exercise of jurisdiction conferred to this Court under Section 438 or 439 of Cr.P.C. is to be taken into consideration. 70. It is, thus, e....
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....ceeds of crime are involved in money laundering. Such conditions enumerated in Section 45 of PML Act will have to be complied with even in respect of an application for bail made under Section 439 Cr. P.C. in view of the overriding effect given to the PML Act over the other law for the time being in force, under Section 71 of the PML Act." 73. Further, it is pertinent to mention here that the process envisaged under Section 50 of PMLA is in the nature of an inquiry against the proceeds of crime and it is not an investigation and the authorities who are recording the statements are not police officers and therefore, these statements can be relied upon as admissible piece of evidence before the Court. The summons proceedings and recording of statements under PMLA are given the status of judicial proceedings under Section 50(4) of PMLA. When such is the sweep of Section 50 of PMLA, the statements that have been recorded and which has been relied upon in the complaint must be taken to be an important material implicating the petitioner. The statements that were recorded during the investigation has been dealt with in prosecution complaint and many of the statements clearly implicate....
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.... similar then only the principle of parity in the matter of passing order is to be passed but if there is difference in between the facts then the principle of parity is not to be applied. 78. It is further settled connotation of law that Court cannot exercise its powers in a capricious manner and has to consider the totality of circumstances before granting bail and by only simple saying that another accused has been granted bail is not sufficient to determine whether a case for the grant of bail on the basis of parity has been established. Reference in this regard may be taken from the judgment as rendered by the Hon'ble Apex Court in Ramesh Bhavan Rathod vs. Vishanbhai Hirabhai Makwana, (2021) 6 SCC 230, wherein, it has been held as under: "25. We are constrained to observe that the orders passed by the High Court granting bail fail to pass muster under the law. They are oblivious to, and innocent of, the nature and gravity of the alleged offences and to the severity of the punishment in the event of conviction. In Neeru Yadav v. State of U.P. [Neeru Yadav v. State of U.P., (2014) 16 SCC 508 :] , this Court has held that while applying the principle of parity, the Hi....
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....the role attached to the accused, their position in relation to the incident and to the victims is of utmost importance. The High Court has proceeded on the basis of parity on a simplistic assessment as noted above, which again cannot pass muster under the law." 79. The Hon'ble Apex Court in Tarun Kumar Vs. Assistant Director Directorate of Enforcement (supra) wherein at paragraph-18, it has been held that parity is not the law and while applying the principle of parity, the Court is required to focus upon the role attached to the accused whose application is under consideration. 80. It has further been held in the paragraph 19 of the said judgment that the principle of parity is to be applied in the matter of bail but equally it has been laid down therein that there cannot be any negative equality, meaning thereby, that if a co-accused person has been granted bail without consideration of the factual aspect or on the ground said to be not proper, then, merely because the co-accused person has been directed to be released on bail, the same will not attract the principle of parity on the principle that Article 14 envisages positive equality and not negative equality. For ready....
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....and as per the prosecution complaint it is evident that the present petitioner has been found involved in the activities of money laundering by acquisition, possession, concealing, layering of proceeds of crime and projecting it as untainted property. He has assisted to another accused in his illegal activities relating to illegal mining. It is alleged that the accused person acquired the proceeds of crime amounting to Rs.4,28,81,865/- and used them to procure the tender of operation of the ferries controlled by Nav Yatayat Samiti, Sahebganj. It has come during the investigation that the operations of the said Samiti is directly controlled by co-accused Pankaj Mishra and Dahu Yadav as well as the present petitioner. It has further come on record that the present petitioner is the partner in Singhwahani Transport and Logistic. The account detail of Singhwahani Transport and Logistic depicts the deposit of huge amount of cash on frequent basis which is none other but the proceeds of crime generated from the act of illegal mining. 86. Therefore, it is evident from the discussion as made above the case of the petitioner is different to that of the said Pashupati Yadav @ Pashupat Yad....
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....rooted conspiracies and involving huge loss of public funds need to be viewed seriously and considered as grave offences affecting the economy of the country as a whole and thereby posing serious threat to the financial health of the country." 91. Similarly, the Hon'ble Apex Court in case of Nimgadda Prasad Vs. C.B.I., reported in (2013) 7 SCC 466 has reiterated the same view in paragraphs-23 to 25 which reads as under: "23. Unfortunately, in the last few years, the country has been seeing an alarming rise in white-collar crimes, which has affected the fibre of the country's economic structure. Incontrovertibly, economic offences have serious repercussions on the development of the country as a whole. In State of Gujarat v. Mohanlal Jitamalji Porwal [(1987) 2 SCC 364 : 1987 SCC (Cri) 364] this Court, while considering a request of the prosecution for adducing additional evidence, inter alia, observed as under: (SCC p. 371, para 5) "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 com....