TaxTMI 
TaxTMI 
2024 (9) TMI 1961
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....n, filed, under Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (hereinafter referred to as the 'BNSS'), a prayer has been made to release applicant-Hitesh Gandhi, on interim bail, in case No. ECIR/SHSZO/04/2019 dated 22.07.2019, registered with the Enforcement Directorate Office (ED), Sub-Zonal Office, Rani Villa, Bagrian House, Strawberry Hills, Chhota Shimla, Shimla, Himachal Pradesh, on the ground that he is the Director of M/s Walia Traders Ltd. and the Punjab National Bank has taken the possession of Hotel Holiday Inn at Panchkula, on 3rd September, 2024. 2. According to the applicant, the said property is worth more than three thousand crores and the same is taken over by the Bank for the loan of only one hundred crore....
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....om the Department of Higher Education, alongwith private Educational Institutions and Banks, were involved, which has resulted into misappropriation of scholarship funds of more than Rs. 200 crore. 9.2. The applicant, according to the stand, taken by ED, along with others, has played a major role in the scam, wrongfully withholding the rightful scholarship entitlement of the scholarships of the students, belonging to SC, ST and OBC students of Himachal Pradesh. According to ED, they have diverted the said funds into their pockets/ accounts. 22 institutions are stated to be involved. In this regard, ED has relied upon the charge sheet submitted by CBI. The investigation is stated to be going on to unearth the illicit money and ascertain t....
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....cution. The twin conditions, as per Section 45 of the PMLA, are also stated to be not satisfied, in this case. 9.7. Elaborating their stand, it is the case of the ED that CBI registered FIR No. RC0962019S0002, dated 7th May, 2019, under Sections 409, 419, 465, 466 and 471 IPC, against the unknown persons. As per the allegations of the said case, there were complicity of individuals from State Government Education Department, Bank Officials and private institutions. Misappropriation in the disbursement of scholarship funds, in large scale, has also been alleged. The offences, under Sections 419 and 471 IPC, are also stated to be scheduled offences, mentioned in the schedule, appended to PMLA and as such, inquiry was initiated. 9.8. The....
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....is father Prem Pal Gandhi, in which, illegally obtained scholarship amount got transferred from the bank accounts of the students. 9.11. It is the further allegation of the ED that the applicant, so far has obtained proceeds of crime to the tune of 4.42 crore, through KC Group of Institutions, Rs. Pandoga. 9.12. Apart from this, it has been apprehended that the applicant may influence the witnesses, who, are his ex-employees and also hamper the investigation to trace remaining proceeds of crime. 10. On the basis of above facts, a prayer has been made to dismiss the application. 11. It is not in dispute that one of the properties of the applicant, at Panchkula, has been taken into possession by the Punjab National Bank and the ma....
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....two sureties, in the like amount, to the satisfaction of learned trial Court. This order, however, shall be subject to the following conditions: a) The applicant shall not tamper with the prosecution evidence nor hamper the investigation of the case in any manner whatsoever; b) The applicant shall not make any inducement, threat or promises to any person acquainted with the facts of the case so as to dissuade them from disclosing such facts to the Court or the Police Officer; c) The applicant shall not leave the territory of India without the prior permission of the Court. 18. The applicant is directed to surrender, before the jail authorities, on 28th September, 2024, positively by 05.00 p.m. 19. Needless t....