TaxTMI 
TaxTMI 
2026 (5) TMI 204
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....haratiya Nagarik Suraksha Sanhita, 2023 for enlarging the applicant on Regular Bail in connection with FIR being File No. ECIR/STSZO/04/2025 registered with Ahmedabad Zonal Office, Ahmedabad City for the offence punishable under Sections 3 and 4 of the Prevention of Money Laundering Act, 202 (hereinafter referred to as "PML Act") 4. Learned senior advocate Mr. Amin on behalf of the applicant would submit that the present applicant has been arraigned as a accused in connection FIR being C.R. No.11210005241151 of 2024 registered with Athwa Police Station, District: Surat for the offences punishable under Sections 338, 336(2), 336(3), 340, 318(4), 319(), 61(2) of the BNS Act and has been arrested in connection with the said offence on 17.11.2024. Learned senior advocate would submit that while the allegation in the said offence being that the accused therein, were laundering money through the medium of mule accounts, and whereas it is submitted that after filing of the FIR, respondent No. 2 had filed ECIR No.4 of 2025 against the accused under the provisions of the PMLA Act and whereas such an ECIR has been registered on 26.03.2025. It is further submitted by learned senior advocat....
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....sonable ground for believing that the applicant is not likely to commit the very self same offence or any other offence during bail, which circumstance, is too difficult to observe in the present case and whereas, it is submitted that the present applicant may not be released by this Court. Learned advocate Mr. Kanani in support of his submissions would rely upon decision of the Hon'ble Supreme Court in the case of The Union of India Through The Assistant Director vs. Kanhaiya Prasad reported in 2025 INSC 210 and Vijayraj Surana vs. Assistant Director, Enforcement Directorate, Chennai I Zonal Office, passed by the High Court of Madras, vide order dated 28.08.2024. Relying upon the said decisions, learned advocate would submit that this Court may not entertain the present application. 6. As against the same, learned senior advocate Mr. Amin in rejoinder would rely upon the decisions of the Hon'ble Apex Court in the case of V.Senthil Balanji vs. The Deputy Director, Directorate of Enforcement reported in 2024 INSC 739, decision of the Hon'ble Supreme Court in the case of Manish Sisodia vs. Directorate of Enforcement reported in 2024 INSC 595 and decision of the Hon'ble Supreme Cou....
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.... of the PMLA offence on bail, Court, is required to ensure that the Public Prosecutor has been given an opportunity to oppose the application for release, which condition has been fulfilled here. The second condition being that the Court has to come to a prima faice conclusion that is, there being a reasonable ground for believing that the accused is not guilty of the offence under the PML Act and that he is not likely to commit any offence while on bail and whereas in this regard, it would appear that the Hon'ble Apex Court, has elaborated on the parameters that would come into play, while considering an application for regular bail from the perspective of Section 45 of the PML Act. v. It would be pertinent to note here that in case of V.Senthil Balaji (supra), the Hon'ble Apex Court has inter alia, at paragraph No. 21 observed that existence of a scheduled offence is sine qua non for alleging the existence of proceeds of a crime. The Hon'ble Supreme Court has also observed that the existence of proceeds of crime at the time of the trail of the offence under Section 3 of the PMLA can be proved only if the scheduled offence is established in the prosecution of the schedule....
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....s of crime to USDT/cryptocurrency from Indian rupees. It also appears to this Court that beyond the said allegation of conversion, there does not appear to be any further allegation against the present applicant. It also appears that the cryptocurrency, has been routed in multiple crypto wallets provided by a co-accused Desai who had transferred the same into the crypto wallets of co-accused Maqkbul Doctor and others. It also requires to be mentioned that the present applicant does not appear to be involved in concealment, possession, acquisition or use and projecting or claiming the same as untainted money, since the allegation is only with regard to conversion as explained above. Prima facie, it would appear to this Court that the present applicant, being engaged in the process of conversion, by itself it could not be said that the present applicant was involved in the offence of money laundering, more particularly, it does not appear that the present applicant was in any way beneficiary of the principal offence except for a small commission of 30 paisa per each dollar which he converts. 9. Further more, since it would appear that the role of the present applicant, is not o....