TaxTMI 
TaxTMI 
2025 (4) TMI 13
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....r of syndicate which comprises of Md. Saddam Hussain, Afshar Ali, Bhanu Pratap Prasad and others. The said accused person also involved in preparation of fake deeds for acquiring properties admeasuring 4.83 acres at Cheshire Home Road, Ranchi. As per the present circle rates of the urban residential properties, the value of the land admeasuring 483 decimals stands at Rs.22.69 crores @ Rs. 4,68,291/- per decimal. The petitioner along with Tapas Ghosh who was directly a party with the accused persons namely, Afshar Ali, Md. Saddam Hussain, Priya Ranjan Sahay and others have assisted them in their activities related acquisition, possession and use to of proceeds of crime and projected the said illegally acquired lands as untainted properties. During further investigation, the role of the three persons namely, Md. Irshad, Sanjit Kumar (petitioner) and Tapas Ghosh emerged in the forgery in relation to the above stated properties. Tapas Ghosh worked as a deed searcher at the Registrar of Assurances, Kolkata and petitioner Sanjit Kumar worked as a Sweeper/Watchman at Registrar of Assurances, Kolkata on contractual basis. The accused Tapas Ghosh and Sanjeet Kumar were involved in ....
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....ith the assistance of co-accused persons. iv. It has also been alleged in the complaint that the petitioner had received an amount of Rs.60,000/- in lieu of providing assistance to co-accused persons, Tapas Ghosh, Irshad Akhtar and others. The ground has been taken in this regard that the cash deposit of Rs.10,000/- and Rs.50,000/- has been reflected in the bank account of the petitioner but that does not substantiate the allegation as has been alleged in the complaint that the same is in lieu of providing assistance to the accused persons. v. The ground has also been taken that the scheduled offence in the present case are Sections 420, 467, 476 of IPC of the predicate case being Sadar P.S. case No. 272 of 2023 and the petitioner is not an accused of the predicate offence and in absence of any accusation for the predicate offence, the petitioner cannot be held guilty under the Prevention of Money Laundering Act, 2002. vi. The ground has also been taken that the prime allegation in the scheduled offence is with respect to forging of documents and there is no allegation against the petitioner that he has forged any document, hence, no offence under Section....
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....ble to give satisfactory explanation regarding the cash deposited in his bank account as also the petitioner and his accomplices have admitted in their statements regarding their indulgence in the forgery committed in respect of the fraudulent acquisition of said 4.83 acres of property. (iii) The ground has also been taken that it is incorrect on behalf of the petitioner to take the ground that the petitioner is not an accused of the predicate offence and in absence of any accusation for the predicate offence, the petitioner cannot be held guilty under the Prevention of Money Laundering Act, 2002 rather the Hon'ble Supreme Court in the case of Pavana Dibbur vs. Directorate of Enforcement (Criminal Appeal No. 2779 of 2023) has held that it is not necessary that the accused for the offence of money laundering to be made accused of schedule offence as also the offence of money laundering is an independent offence. (iv) So far as the ground of parity is concerned which has been taken on behalf of the petitioner that the co-accused person, namely, Hemant Soren who was made accused in the original prosecution complaint, has already been granted bail by this Court vide o....
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.... poses a serious threat not only to the financial systems of countries, but also to their integrity and sovereignty. To obviate such threats international community has taken some initiatives. It has been felt that to prevent money-laundering and connected activities a comprehensive legislation is urgently needed. To achieve this objective the Prevention of Money-laundering Bill, 1998 was introduced in the Parliament. The Bill was referred to the Standing Committee on Finance, which presented its report on 4th March, 1999 to the Lok Sabha. The Central Government broadly accepted the recommendation of the Standing Committee and incorporated them in the said Bill along with some other desired changes. STATEMENT OF OBJECTS AND REASONS It is being realised, world over, that money-laundering poses a serious threat not only to the financial systems of countries, but also to their integrity and sovereignty. Some of the initiatives taken 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 o....
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....s of crime" means any 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 3[or where such property is taken or held outside the country, then the property equivalent in value held within the country] 4[or abroad]; [Explanation.-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;]" 12. It is evident from the aforesaid provision that "proceeds of crime" means any 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, then the property 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 obtain....
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.... 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. [Explanation.- For the removal of doubts, it is hereby clarified that,- (i) a person shall be guilty of offence of money-laundering if such person is found to have directly or indirectly attempted to indulge or knowingly assisted or knowingly is a party or is actually involved in one or more of the following processes or activities connected with proceeds of crime, namely:- (a) concealment; or (b) possession; or (c) acquisition; or (d) use; or (e) projecting as untainted property; or (f) claiming as untainted property, in any manner whatsoever; (ii) 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 prop....
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....ments, and produce such documents as may be required. (4) Every proceeding under sub-sections (2) and (3) shall be deemed to be a judicial proceeding within the meaning of section 193 and section 228 of the Indian Penal Code (45 of 1860). (5) Subject to any rules made in this behalf by the Central Government, any officer referred to in sub-section (2) may impound and retain in his custody for such period, as he thinks fit, any records produced before him in any proceedings under this Act: Provided that an Assistant Director or a Deputy Director shall not- (a) impound any records without recording his reasons for so doing; or (b) retain in his custody any such records for a period exceeding three months, without obtaining the previous approval of the [Joint Director]." 22. The various provisions of the Act, 2002 along with interpretation of the definition of "proceeds of crime" has been dealt with by the Hon'ble Apex Court in the case of Vijay Madanlal Choudhary and Ors. Vs. Union of India and Ors., (2022) SCC OnLine SC 929 wherein the Bench comprising of Three Hon'ble Judges of the Hon'ble Supreme Court have decided the issue by taking into co....
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....nion for Civil Liberties, and National Legal Services Authority v. Union of India." 24. The implication of Section 50 has also been taken into consideration. Relevant paragraph, i.e., paragraphs-422, 424, 425, 431, 434 read as under: "422. The validity of this provision has been challenged on the ground of being violative of Articles 20 (3) and 21 of the Constitution. For, it allows the authorised officer under the 2002 Act to summon any person and record his statement during the course of investigation. Further, the provision mandates that the person should disclose true and correct facts known to his personal knowledge in connection with the subject matter of investigation. The person is also obliged to sign the statement so given with the threat of being punished for the falsity or incorrectness thereof in terms of Section 63 of the 2002 Act. Before we proceed to analyse the matter further, it is apposite to reproduce Section 50 of the 2002 Act, as amended. -----: 424. By this provision, the Director has been empowered to exercise the same powers as are vested in a civil Court under the 1908 Code while trying a suit in respect of matters specified in sub-sec....
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....ion. This Court opined that the guarantee in Article 20 (3) is against "testimonial compulsion" and is not limited to oral evidence. Not only that, it gets triggered if the person is compelled to be a witness against himself, which may not happen merely because of issuance of summons for giving oral evidence or producing documents. Further, to be a witness is nothing more than to furnish evidence and such evidence can be furnished by different modes. The Court went on to observe as follows: "Broadly stated the guarantee in article 20 (3) is against "testimonial compulsion". It is suggested that this is confined to the oral evidence of a person standing his trial for an offence when called to the witness-stand. We can see no reason to confine the content of the constitutional guarantee to this barely literal import. So to limit it would be to rob the guarantee of its substantial purpose and to miss the substance for the sound as stated in certain American decisions. The phrase used in Article 20 (3) is "to be a witness". A person can "be a witness" not merely by giving oral evidence but also by producing documents or making intelligible gestures as in the case of a dumb witness (See....
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....ilitate initiation of or pursuing with an action regarding proceeds of crime, if the situation so warrants and for being presented before the Adjudicating Authority. It is a different matter that the information and evidence so collated during the inquiry made, may disclose commission of offence of money-laundering and the involvement of the person, who has been summoned for making disclosures pursuant to the summons issued by the Authority. At this stage, there would be no formal document indicative of likelihood of involvement of such person as an accused of offence of money laundering. If the statement made by him reveals the offence of money laundering or the existence of proceeds of crime, that becomes actionable under the Act itself. To put it differently, at the stage of recording of statement for the purpose of inquiring into the relevant facts in connection with the property being proceeds of crime is, in that sense, not an investigation for prosecution as such; and in any case, there would be no formal accusation against the noticee. Such summons can be issued even to witnesses in the inquiry so conducted by the authorised officials. However, after further inquiry on the ....
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....roperty 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, meaning thereby, the words "any property which may directly or indirectly be derived or obtained as a result of any criminal activity relatable to the scheduled offence" will come under the fold of the proceeds of crime. 27. So far as the purport of Section 45 (1) (i) (ii) is concerned, the aforesaid provision starts from the non-obstante clause that notwithstanding anything contained in the Code of Criminal Procedure, 1973, no person accused of an offence under this Act shall be released on bail or on his own bond unless - (i) the Public Prosecutor has been given opportunity to oppose the application for such release; and (ii) where 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. 28. Sub-section (2) thereof puts limitation on granting bail specific in sub-section (1) in addition....
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....ll be of no consequence. This argument need not detain us for long. We say so because the observation in State of Manipur in paragraph 29 of the judgment that owing to the declaration by a Court that the statute is unconstitutional obliterates the statute entirely as though it had never been passed, is contextual. In this case, the Court was dealing with the efficacy of the repealing Act. While doing so, the Court had adverted to the repealing Act and made the stated observation in the context of lack of legislative power. In the process of reasoning, it did advert to the exposition in Behram Khurshid Pesikaka and Deep Chand including American jurisprudence expounded in Cooley on Constitutional Limitations and Norton v. Shelby County." 30. Subsequently, the Hon'ble Apex Court in the case of Tarun Kumar vs. Assistant Director Directorate of Enforcement, (2023) SCC OnLine SC 1486 by taking into consideration the law laid down by the Larger Bench of the Hon'ble Apex Court in Vijay Madanlal Choudhary and Ors. Vs. Union of India and Ors.(supra), has laid down that since the conditions specified under Section 45 are mandatory, they need to be complied with. The Court is required to be....
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....t any offence while on bail. 32. In the judgment rendered by the Hon'ble Apex Court in Vijay Madanlal Choudhary and Ors. Vs. Union of India and Ors. (supra) as under paragraph 284, it has been held that the Authority under the 2002 Act, is to prosecute a person for offence of money-laundering only if it has reason to believe, which is required to be recorded in writing that the person is in possession of "proceeds of crime". Only if that belief is further supported by tangible and credible evidence indicative of involvement of the person concerned in any process or activity connected with the proceeds of crime, action under the Act can be taken to forward for attachment and confiscation of proceeds of crime and until vesting thereof in the Central Government, such process initiated would be a standalone process. So far as the issue of grant of bail under Section 45 of the Act, 2002 is concerned, as has been referred hereinabove, at paragraph-412 of the judgment rendered in Vijay Madanlal Choudhary and Ors. Vs. Union of India and Ors. (supra) it has been held therein by making observation that whatever form the relief is couched including the nature of proceedings, be it under Se....
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....only if they are not inconsistent with the provisions of this Act. Therefore, the conditions enumerated in Section 45 of PMLA will have to be complied with even in respect of an application for bail made under Section 439 CrPC. That coupled with the provisions of Section 24 provides that unless the contrary is proved, the authority or the Court shall presume that proceeds of crime are involved in money-laundering and the burden to prove that the proceeds of crime are not involved, lies on the appellant." 35. Now adverting into fact of the instant case and the allegation levelled against the present petitioner which according to learned counsel for the petitioner is being said that the same cannot be said to attract the ingredient of Section 3 of PMLA, 2002. While on the other hand, the learned counsel appearing for the ED has submitted by referring to various paragraphs of prosecution complaint that the offence is very much available attracting the offence under provisions of PML Act. 36. This Court, in order to appreciate the rival submission, is of the view that various paragraphs of prosecution complaint upon which the reliance has been placed on behalf of both the parties....
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....seized documents and his digital devices were scrutinized. The scrutiny of the mobile phone of Bhanu Pratap Prasad further led to the identification of one 8.80 acres property situated at Shanti Nagar, Behind DAV School, Bariatu, Ranchi, acquired and possessed by Hemant Soren Another property ad measuring (4.83) acres which were acquired by the above stated syndicate of Bharu Pratap Prasad, Afshar Ali and others was also identified. 9.9 As stated above, during investigation, another 4.83 acres property, situated at Cheshire Home Road, Mauja Gart, Ranchi was also identified to be acquired by the accused persons inducing Afshar All, Md Saddam Hussain and others in connivance with Bhanu Pratap Prasad. Fake deeds, diaries having hand written cash details were also seized from possession of Md.Saddam Hussain, Imtiyaz Ahmed (an accomplice of Afshar Ali and Saddam Hussain). These entries contained huge cash payments including compensatory payment to Bhanu Pratap Prasad in relation of the above stated 4.83-acre property. 9.17 During further investigation into the role of other associates of Bhanu Pratap Prasad, it has surfaced that a fake deed no. 3985/1940 has been prepa....
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....tated to have given Rs 60.000/ to Md Irshad for writing the deeds. The statement of Md. Irshad was recorded u/s 50 of P'MLA, 2002 on 24.04 2024 in which he admitted to have written the above stated deed and further acknowledged his hand writing in which the said deed was written. 9:35 Investigation reveals that the syndicate used to identify vacant land parcels in Ranchi, where no activity was done. In addition to this the accused persons namely Afshar Ali, Priya Ranjan Sahay and others largely targeted tribal lands whose sale purchase were restricted under CNT Act. Then they used to make antedated fake deeds either to change the nature of the property (making them general lands) or to create fictitious owners. Later with the assistance of officials of circle offices, the original records were falsified so that the land could be acquired by them. In addition, the above 8.86 acres of property as discussed above, the accused persons namely Md. Saddam Hussain, Afshar Ali. Priya Ranjan Sahay and others are involved with Bhanu Pratap Prasad in forgery with respect to property admeasuring 4.83 acres situated at Mauja Gari, Khata no. 53, at Plot No. 31 32,33,35, 36, 38, 72 an....
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....ce of Mid Saddam Hussain during search dated 13.04.2023 in ECIR-RNZO/18/2022 which has been discussed above. The accused person Md. Irshad also acknowledged his handwriting on the said correction slip. In addition to the above stated correction slip, on 13.04.2023, pages of register II related to Khata no 53 in the name of Samrendra Chandra Ghoshal were also recovered. The accused person Md. Irshad also admitted to have made the said entries in Register II. The bank account scrutiny of the accused persons namely Sanjit Kumar Tapas Ghosh, Md. Irshad, and Irshad Akhtar reveals interconnected transactions amongst the said persons. In addition to this frequent cash deposits made into their bank accounts during the period of commission of offence has also been identified. These cash deposits and bank account transactions corroborate the link between the accused persons and also establish the receipt of proceeds of crime in cash, out of which, some portion has been deposited by them in their bank accounts. - 9.41 The accused person Afshar Ali also admitted that another deed no 2376/1940 was prepared by him in relation to a part of land admeasuring 2.83 acres out of the 4.83 acre....
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....eet Kumar maintained in Bank of India and Indian Bank reveal a cash deposit of Rs. 60000 in lieu of providing assistance to Tapas Ghosh, Irshad Akhtar and others. 9.48 The scrutiny of the Axis Bank Account No. 918010066076941 maintained in the name of Md. Irshad reveals frequent transactions with accused persons namely Md. Saddam Hussain, Afshar Ali and others amounting to Rs. 12,25,000 mostly in a period of one year.- 10. Gist of the statements recorded during course of investigation under PMLA 2002 7. Sanjit Kumar (accused no. 12) His statement dated 08.05 2024 recorded under section 50 of PMLA, 2002 reveals that he worked as a contractual staff at Registrar of Assurances, Kolkata since 2017 His statement further reveals that he has associations with accused person Irshad Akhtar in providing blank pages in lieu of money. His statement also reveals that he has bank account transactions with accused persons and their associates during the period 2019 to 2022. Process and activity connected with proceeds of crime and role of the accused persons in offence of money laundering - 8. Sanjit kumar The accused person worked as....
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....g investigation that the petitioner along with other accused persons was involved in preparation of fake deed as admitted by co-accused Afsar Ali mentioned at para 9.20 of the prosecution complaint. Further as per para 9.35 & 9.38 of the prosecution complaint where CDR has been reproduced the petitioner was acquainted with other co-accused and also as per paras 9.45, 9.46 & 9.48 of the prosecution complaint, substantial amount was transferred in the account of this petitioner. 40. Further it has revealed during investigation that the petitioner was in touch with other co-accused and also as per para 9.47 of the prosecution complaint statement of co-accused Irshad Akhtar he had received money from the account of this petitioner and the handsome amount was transferred in the account of this petitioner in lieu of providing assistance to co-accused Md. Irshad. 41. Further at paragraph 9.38 of the ECIR, it has come that the blank page for writing the said deed was arranged by accused person Irshad Akhtar. The said accused person Irshad Akhtar arranged the blank pages with the assistance of the accused persons namely Tapas Ghosh, a deed searcher and Sanjeet Kumar (petitioner herein....
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.... (iii) those who are knowingly a party; or (iv) those who are actually involved. Insofar as process is concerned, the Section identifies six different activities, namely (i) concealment; (ii) possession; (iii) acquisition; (iv) use; (v) projecting; or (vi) claiming as untainted property, any one of which is sufficient to constitute the offence. Insofar as product is concerned, Section 3 identifies "proceeds of crime" or the property representing the proceeds of crime as the product of the process or activity. 47. It is evident that as per Section 3, there are six processes or activities identified therein, i.e., (i) concealment; (ii) possession; (iii) acquisition; (iv) use; (v) projecting as untainted property; and (vi) claiming as untainted property. Even if a person does not retain the money generated as proceeds of crime but "uses" it, he will be guilty of the offence of money-laundering, since "use" is one of the six activities mentioned in Section 3. In the instant case the proceeds obtained from illegal mining activities are laundered through diverse....
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....nition of "Proceeds of Crime" under Section 2 (1) (u) will necessarily be the crime properties. 52. To constitute any property as proceeds of crime, it must be derived or obtained directly or indirectly by any person as a result of criminal activity relating to a scheduled offence. The explanation clarifies that the proceeds of crime include property, not only derived or obtained from 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. Clause (u) also clarifies that even the value of any such property will also be the proceeds of crime. 53. Further it is settled proposition of law that if a person who is unconnected with the scheduled offence, knowingly assists the concealment of the proceeds of crime or knowingly assists the use of proceeds of crime, in that case, he can be held guilty of committing an offence under Section 3 of the PMLA. Therefore, it is not necessary that a person against whom the offence under Section 3 of the PMLA is alleged must have been shown as the accused in the scheduled offence. 54. So far as the facts of the present case are con....
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.... of paragraph of the prosecution complaint it is evident that the petitioner is not only involved rather his involvement is direct in procuring the proceeds of crime by way of connivance with the other accused persons. 59. At the cost of repetition, 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'bl....
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....inks it fit to revisit the scope of section 45 of the PML Act 2002. As discussed in preceding 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 u....
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....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 the petitioner. Therefore, the statements that have been recorded and which has been relied upon, is also a strong material that prima....
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....892 of 2024. 78. Now coming to the ground of parity as raised by the learned counsel for the petitioner, the law is well settled that the principle of parity is to be applied if the case of the fact is exactly 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. 79. 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 ....
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.... accused who was granted bail was armed with a similar weapon is not sufficient to determine whether a case for the grant of bail on the basis of parity has been established. In deciding the aspect of parity, 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." 80. 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. 81. 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 th....
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....ansferred in Bank account of Irshad who used to prepare fake deed of landed property. 84. Thus, the allegation against the present petitioner is entirely different and as per the prosecution complaint it is evident that the present petitioner has been found in preparation of fake deeds, falsification of government records and tampering with revenue registers to acquire and dispose of landed properties as a member of syndicate. 85. Applying the principle of parity, this Court is of the view as per the judgment rendered by the Hon'ble Apex Court rendered in Tarun Kumar (supra) that the benefit of parity is to be given if the facts/involvement of the petitioner is identical to the persons with whom parity is being claimed. 86. This Court, on the basis of the discussion of the involvement of the petitioner, vis-à-vis, the other co-accused person, is of the view that the case of the petitioner is quite distinguishable to that of the case of the co-accused/petitioner of B.A no.4892 of 2024, therefore it is considered view of this Court that it is not a fit case for application of the issue of parity herein. 87. Further, it is required to refer herein that the Money....
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....ment which conviction will entail, the character of the accused, circumstances which are peculiar to the accused, reasonable possibility of securing the presence of the accused at the trial, reasonable apprehension of the witnesses being tampered with, the larger interests of the public/State and other similar considerations. It has also to be kept in mind that for the purpose of granting bail, the legislature has used the words "reasonable grounds for believing" instead of "the evidence" which means the court dealing with the grant of bail can only satisfy itself as to whether there is a genuine case against the accused and that the prosecution will be able to produce prima facie evidence in support of the charge. It is not expected, at this stage, to have the evidence establishing the guilt of the accused beyond reasonable doubt. 25. Economic offences constitute a class apart and need to be visited with a different approach in the matter of bail. The economic offence having deep-rooted conspiracies and involving huge loss of public funds needs to be viewed seriously and considered as a grave offence affecting the economy of the country as a whole and thereby posing serio....