TaxTMI 
TaxTMI 
2024 (4) TMI 1349
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....Alok Ranjan and Suresh Prasad Verma under Section 7 (b) of P.C. Act, 2018 and under Sections 120B and 201 of the Indian Penal Code. 3. Further, in course of search proceeding conducted in relation to the instant case at different places under Section 17 PML Act to investigate the role of the accused persons and their close associates, it is found that part of the proceeds of crime acquired in the form of commission/bribe in lieu of allotment of tenders by the present petitioner i.e. Veerendra Kumar Ram, a public servant. The said bribe money was getting routed to the bank accounts of family members of present petitioner Veerendra Kumar Ram with the help of bank accounts of Delhi based CA Mukesh Mittal's employees/relatives. 4. It is also ascertained that petitioner Veerendra Kumar Ram used to give cash to Mukesh Mittal who with the help of other entry providers used to take entries in the bank accounts of his employees and relatives and then such fund was transferred by Mukesh Mittal into the bank accounts of the co-accused Rajkumari (wife of Veerendra Kumar Ram) and Genda Ram (father of Veerendra Kumar Ram). 5. Further, it is also ascertained that some bank accounts, ....
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....ion 3 of the PML Act since there is no allegation of laundering of money against the petitioner. V. In alternate, submission has been made that even if the allegations leveled against petitioner is accepted then also it would not constitute offence under Section 3/4 of the PML Act inasmuch as the allegations fall short of the essential ingredients for offence of money laundering. VI. That the Enforcement Directorate has exceeded its jurisdiction in arraigning the petitioner as an accused in the present case when he cannot even be remotely linked to the predicate offence which in the present case is FIR No. 13/2019 dated 13.11.2019 registered by ACB. VII. Further ground has been taken that the ECIR is subsequent to the FIR since the first FIR is dated 13.11.2019 and at that time no complaint was instituted against the petitioner but subsequent thereto second FIR was instituted then only the complaint has been registered. Since the petitioner is not named in the FIR dated 13.11.2019 as such the ECIR/complaint is not applicable. 10. Learned counsel for the petitioner based upon the aforesaid grounds has submitted that in the aforesaid view of the matter a....
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....ersons have been considered by this Court and the same have been rejected looking into the gravity of offence and applying the rigours of Section 45 of PML Act, 2002. V. Regular bail petitions of co-accused Tara Chand and Harish Yadav have been rejected by this Court vide order dated 01.03.2024 in B.A. No. 11095 of 2023 and BA No. 9734 of 2023 respectively and anticipatory bail petition of co-accused, Mukesh Mittal has also been rejected by this Court vide order dated 16.02.2024 in ABA No. 10671 of 2023. 12. Learned counsel for the respondent-Enforcement Directorate, based upon the aforesaid grounds, has submitted that it is not a fit case where the prayer for bail is to be allowed taking into consideration his involvement in directly acquiring the proceeds of crime. Discussion: 13. This Court has heard the learned counsel for the parties, gone across the pleading available on record as also the finding recorded by learned court. 14. This Court, before appreciating the argument advanced on behalf of the parties, deems it fit and proper to discuss herein some of the provision of law as contained under the Act, 2002 with its object and intent. 15. The Act was ....
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....chotropic 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 for comprehensive 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 regarding reportable transactions; (iii) confiscation of the proceeds of crime; (iv) declaring money-laundering to be an extraditable offence; and ....
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....hat "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. 20. 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 relatable to the scheduled offence. 21. The "property" has been defined under Section 2(1)(v) which means any property or assets of every description, wheth....
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....as untainted property or claiming it as untainted property in any manner whatsoever.]" 25. 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. 26. 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. 27. 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, Section 50 of the Act, 2002 is quoted as under: "50. ....
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....e Hon'ble Supreme Court have decided the issue by taking into consideration the object and intent of the Act, 2002. 29. 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 paragraph 265. 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 money-laundering. 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 express....
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.... while trying a suit in respect of matters specified in sub-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 t....
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....aking intelligible gestures as in the case of a dumb witness (See section 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". I....
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....he inquiry so conducted by the authorised officials. However, after further inquiry on the basis 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 ....
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....n (2) thereof puts limitation on granting bail specific in subsection (1) in addition to the limitations under the Code of Criminal Procedure, 1973 or any other law for the time being in force on granting of bail. 35. 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 nonbailable 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. 36. 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. 37. For ready reference, the said paragraphs are being referred as under: "372. Section 45 has been amended v....
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....ied 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 offence while on bail. 39. 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. 40. 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 satisfie....
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....g observation that whatever form the relief is couched including the nature of proceedings, be it under Section 438 of the 1973 Code 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. 43. 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 inconsisten....
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....raphs of prosecution complaint upon which the reliance has been placed on behalf of both the parties, needs to be referred herein so 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 prosecution complaint and supplementary prosecution complaint are quoted herein : 7.1 EVIDENCES GATHERED DURING THE COURSE OF SEARCH PROCEEDING U/S 17 OF THE PMLA WHICH ESTABLISHES ALOK RANJAN'S ASSOCIATION WITH VEERENDRA KUMAR RAMAND HIS INVOLVEMENT IN THE PROCESS OF MONEY LAUNDERING In fact, during the course of post search investigation under the PMLA, it is ascertained that Alok Ranjan used to go to Delhi with Veerendra Kumar Ram during the year 2019. Veerendra Kumar Ram himself in his statement dated 15.04.2023 has accepted that he used to go to Delhi during 2019 for the purpose of giving cash to one CA Mukesh Mittal who used to provide him the entries in his bank account held jointly with his wife Rajkumari and such cash was acquired by Veerendra Kumar Ram from the commission amount re....
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....ders from the contractors. He further disclosed in his statement dated 14.04.2023 that the commission amount taken from the contractors is 3.2% of the total tender value and that his share was 0.3% of the total tender value which at some postings was higher than 0.3%. However, given the total Proceeds of crime acquired by him, it is believed that his percentage (%) in the commission bribe must have been higher, as he himself stated in his statement dated 15.04.2023 that his commission varied from 03% to 1% of the tender value. 7.2.3 During the course of search on 21.02.2023 at the residential premises of Veerendra Kumar Ram located at 447/A, 2nd Floor, Road No. 4, Ashok Nagar, Ranchi cash amounting to Rs 7,82,500 was recovered and seized and when Veerendra Kumar Ram was asked to explain the source of the said cash, he stated in his statement dated 15.04.2023 that the said cash was the commission received by him in lieu of allotment of tenders. 8. Brief detail of persons examined Under Section 17 & 50 of PMLA: During the course of search and investigation, statements of several persons were recorded under the provisions of PMLA. The gist of the st....
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....rendra Kumar Ram and his statement was recorded u/s 50 on 31.03.2023 and 01.04.2023 wherein he stated that Rs. 56.21 lakhs cash deposit in his bank account 017101527226 since last 5 financial years was made by his father. He also has one Audi and one Fortuner in his name but he could not explain the source of such income. He has also stated that his father Veerendra Kumar Ram has arranged payment of a sum of Rs. 13,51,958/- for him. 8.4 Mukesh Mittal: Mukesh Mittal is a Delhi based Chartered Accountant of Veerendra Kumar Ram who managed to provide the fake business entries in the bank account of Genda Ram. His statement was recorded u/s 17 on 21.02.2023 and u/s 50 on 29.03.2023 and 30.03.2023 wherein he stated that Veerendra Kumar Ram approached him around 6 months ago to route his ancestral money which was actually the commission money of about Rs. 5 crores to the account of his father Genda Ram to purchase a farm house in Delhi. Later, Mukesh Mittal later arranged the routing of the said Rs. 5 crores into the bank account of Genda Ram. 11. Role of Accused in offence of money laundering under Section 3 of PMLA, 2002 11.1 Accused No. 1-Veerendra Kumar Ram....
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....ndra Kumar Ram. g) Therefore, Accused No. 1 i.e. Veerendra Kumar Ram has directly indulged in the process of acquisition, possession, use and concealment to the tune of at least Rs 48,94,10,877/- by receiving the said Rs 48,94,10,877 crores from the Commission/ bribe amount by misusing his post while working and posted in different capacity at Rural Development (Special Zone) and Rural Works Department, Government of Jharkhand. He was also found to be directly indulged in projecting the Delhi based immovable properties (mentioned at Sr no 1 of table of para 9) to the tune of Rs.38.8 crores and his 3 vehicles (mentioned at Sr no 2 of table of para 9) in the name of his wife Rajkumari and son Ayush Rapson to the tune of Rs1.27 crores approx., as untainted property by routing the same from Delhi based accounts. Further he also projected cash deposits in the bank accounts of his family members as untainted by filing ITRs and showing income from cash sales of vegetables etc. which found to be just a tool to project his tainted money as untainted. h) Hence, Veerendra Kumar Ram had directly indulged, knowingly is as party and is actually involved in all the activities co....
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....o the bank accounts of family members of Veerendra Kumar Ram with the help of bank accounts of Mukesh Mittal's employees/relatives. 50. It is also ascertained that Veerendra Kumar Ram used to give cash to Mukesh Mittal who with the help of other entry providers used to make entries in the bank accounts of his employees and relatives and then such fund was transferred by Mukesh Mittal into the bank accounts of Rajkumari (Wife of Veerendra Ram) and Shri Genda Ram (Father of Shri VK Ram/Petitioner). 51. Further, it is also ascertained that some bank accounts opened (at Delhi) on the basis of forged documents were also being used in said routing of funds. Therefore, information related to the same was shared with the Delhi Police under Section 66(2) of the PMLA and on the basis of the information shared under Section 66(2) of PMLA, 2002 to Commissioner of Police, Delhi, Police Head Quarter, on 03.03.2023 an FIR No. 22/2023, was registered by Economic Offence Wing (EOW), Delhi against (i).Veerendra Kumar Ram (present petitioner), (ii) Mukesh Mittal, and (iii) unknown Others under Sections 419, 420, 465, 466, 468, 471, 473, 474, 476, 484, and 120 B of IPC, 1860, and Section 7 a....
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....ssion, the petitioner and his wife Rajkumari also availed various facilities including vehicles from the contractors which was further proved by the three vehicles frozen, registered in the name of contractors/companies. Various contractors have stated that they frequently receive calls from Rajkumari and the petitioner to provide vehicles and other facilities to her. 56. During the course of the investigation, it has been ascertained from the statements of contractors Anup Kumar Rai and Rajesh Kumar and several other circumstantial evidences, that the seized cash of Rs. 2.67 crores by ACB Jamshedpur are the proceeds of crime generated by petitioner, acquired through bribe/commission which Alok Ranjan was safekeeping with himself. Further, it was found that the said proceeds were only part of the larger fund that were acquired by the petitioner, which were kept at different places and placed in the bank accounts of his family members by way of providing entries through various bogus companies. During the course of the investigation, the petitioner was arrested under Section 19 of PMLA, 2002 on 23.02.2023 for offence of money laundering. 57. Investigation disclosed that huge f....
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....2023, and the same is prayed for confiscation before learned Special Court (PMLA), Ranchi. Investigation disclosed that the petitioner contacted CA Mukesh Mittal in June 2022 to take the entries in the bank accounts of his father Genda Ram. Henceforth, the services of hawala through a network of entry providers were utilized by Mukesh Mittal to transfer an amount of Rs. 5 crores in cash from Jamshedpur to Delhi, the source of the said Rs. 5 crores cash was the commission received by the petitioner. 60. It was further established that Mukesh Mittal got Rs. 36 lakhs of proceeds of crime from the petitioner, which he received for providing his services of arranging entries through entry operators in the bank accounts of family members of the petitioner. 61. Hence, assets worth Rs. 35,77,117.94/- of Mukesh Mittal were attached by this Directorate vide Provisional Attachment Order Number 04/2023 dated 03.08.2023. The said Provisional Attachment Order (PAO) has also duly been confirmed by the learned Adjudicating Authority vide its order dated 29.12.2023 and the same is prayed for confiscation before Learned Special Court (PMLA), Ranchi. 62. That the activity of directly indulgi....
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....ifferent special statute. The investigation conducted by the Enforcement Directorate under the PMLA, 2002 is triggered after committing, the commission of a scheduled offence, out of which proceeds have been generated. During the investigation, there is the active involvement of the petitioner in the layering, transfer and use as well as the petitioner entering into transactions to launder the proceeds of crime generated out of such scheduled offence. 70. Thus, prima-facie, it appears that the petitioner has involved himself in accumulating proceeds of crime and the aforesaid plea of the learned counsel for the petitioner doesn't hold water. 71. 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, directly or indirectly, and is not limited to the happening of the final act of integration of tainted property in the formal economy to constitute an act of money laundering. Of course, the authority of....
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....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; 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." 75. 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. 76. At paragraph-15 of the aforesaid judgment, it has observe....
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....operty linked to the stated scheduled offence. This interpretation alone can be countenanced on the basis of the provisions of the 2002 Act, in particular Section 2(1)(u) read with Section 3. Taking any other view would be rewriting of these provisions and disregarding the express language of definition clause "proceeds of crime", as it obtains as of now." (underline supplied) 16. In paragraphs 269 and 270, this Court held thus: "269. From the bare language of Section 3 of the 2002 Act, it is amply clear that the offence of money-laundering 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 process or activity can be in any form - be it one of concealment, possession, acquisition, use of proceeds of crime as much as projecting it as untainted property or claiming it to be so. Thus, involvement in any one of such process or activity connected with the proceeds of crime would constitute offence of money-laundering. This offence otherwise has nothing to do with the criminal activity relating to a s....
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....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 80. In the instant case, it has been found that during the course of investigation from the statements of witnesses recorded under Section 50 that the petitioner Veerendra Ram had directly indulged, knowingly is as the party and is actually involved in all the activities connected with the offence of money laundering. i.e., use or acquisition, possession, concealment, and projecting or claiming as untainted property 81. Now in the light of aforesaid discussion at this juncture this Court thinks 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. 82. Sub-section (1)(ii) of Section 45 of the Act, 2002, provides that if the Public Prosecutor....
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....terial change in circumstances. 89. Further, it is settled proposition of law that the filing of charge-sheet is not a circumstance that tilts the scales in favour of the accused for grant of bail and needless to say, filing of the charge-sheet does not in any manner lessen the allegations made by the prosecution 90. At this juncture it would be apposite to refer to the decision of Hon'ble Supreme Court rendered in the case of Virupakshappa Gouda v. State of Karnataka, (2017) 5 SCC 406 wherein at paragraph 12 the Hon'ble Apex Court has observed as under "12. On a perusal of the order passed by the learned trial Judge, we find that he has been swayed by the factum that when a charge-sheet is filed it amounts to change of circumstance. Needless to say, filing of the charge-sheet does not in any manner lessen the allegations made by the prosecution. On the contrary, filing of the charge-sheet establishes that after due investigation the investigating agency, having found materials, has placed the charge-sheet for trial of the accused persons. -― 91. Thus this court after taking note of the settled legal proposition is of view that the contention of the lear....
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.... in view of the amendment that was made to Section 3 of PMLA through Act 23 of 2019. 94. 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 facie establishes the offence of money laundering against the petitioner. 95. It is pertinent to mention here that the....
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....has observed that corruption poses a serious threat to our society and must be dealt with iron hands. The relevant paragraph of the aforesaid judgment is being referred as under:- "31. The nature and gravity of the alleged offence should have been kept in mind by the High Court. Corruption poses a serious threat to our society and must be dealt with iron hands. It not only leads to abysmal loss to the public exchequer but also tramples good governance. The common man stands deprived of the benefits percolating under social welfare schemes and is the worst hit. It is aptly said, "Corruption is a tree whose branches are of an unmeasurable length; they spread everywhere; and the dew that drops from thence, Hath infected some chairs and stools of authority." Hence, the need to be extra conscious." 100. This Court, in view of the aforesaid material available against the petitioner, is of the view, that in such a grave nature of offence, which is available on the face of the material, applying the principle of grant of bail wherein the principle of having prima facie case is to be followed, the nature of allegation since is grave and as such, it is not a fit case of grant of ....