2018 (9) TMI 2050 - HC - Money Laundering

Money Laundering - seeking grant of anticipatory bail - attachment of property - non bailable warrants of arrest issued by the trial court were converted into bailable warrants by this Court - Conviction and sentence by the Trial Court under Section 13 of the Prevention of Corruption Act, 1988 - HELD THAT - This petition is disposed of with a direction that in case petitioner surrenders before the trial Court within ten days from today,he be released on bail subject to the satisfaction of the said Court.

Summary

Issues:
1. Anticipatory bail under Section 438 of the Code of Criminal Procedure, 1973 for an offense under the Prevention of Money Laundering Act, 2002.

Analysis:
The petitioner filed a petition seeking anticipatory bail in a criminal complaint under the Prevention of Money Laundering Act, 2002. The case is intertwined with another case involving a co-accused who was convicted under the Prevention of Corruption Act, 1988. The main accused in the corruption case had his non-bailable warrants converted to bailable warrants by the Court, and his property was attached. The supplementary complaint was filed against the petitioner, alleging that the petitioner's property was purchased with money accumulated by the convicted co-accused.

The defense argued that the petitioner is willing to surrender and face trial. The State counsel opposed the petition. The Court, considering the circumstances, disposed of the petition with a direction that if the petitioner surrenders within ten days, they will be released on bail subject to the satisfaction of the trial Court. This judgment highlights the interconnected nature of cases involving multiple accused individuals and the legal implications of property attachment in cases of financial offenses like money laundering.