2023 (12) TMI 1243 - HC - Money Laundering

Seeking grant of anticipatory bail - Money Laundering - proceeds of crime - statement recorded under Section 50 of the PMLA, 2002 - HELD THAT - The co-accused persons Shesh Nath Chauha, Ashok Kumar Singh and Pramod Kumar Singh have been granted anticipatory bail in the present case - The complaint states that the applicant was working as a Junior Engineer; the applicant is aged about 63 years and besides the alleged Scheduled offence, he is not involved in any other case. He has already been granted anticipatory bail in the Scheduled offence and three co-accused persons have been granted anticipatory bail in the present case. The applicant is also entitled for anticipatory bail in the present case - In the event of arrest/ appearance of applicant-Ashok Kumar Singh before the learned Trial Court in the aforesaid case crime, he shall be released on anticipatory bail on his furnishing personal bond and two solvent sureties, each in the like amount, to the satisfaction of S.H.O./Court concerned on the conditions imposed - bail application allowed.

Summary

Issues involved:
The judgment involves the application for anticipatory bail in a case related to alleged financial irregularities and misappropriation of funds under the Prevention of Money Laundering Act, 2002.

Case Details:
The case was initiated based on a complaint by the Directorate of Enforcement against multiple individuals, including the applicant, regarding financial bungling in MNREGA funds in a specific district during 2007-2010.

Proceeds of Crime:
Investigations revealed that proceeds of the crime amounting to Rs. 7,30,620 were generated through criminal activities, with a co-accused identified as being involved in the offense.

Applicant's Involvement:
The applicant, working as a Junior Engineer, admitted to misutilization of funds and involvement in irregularities during the construction of a road, as per his statement recorded under the PMLA, 2002.

Legal Interpretation - Scheduled Offense:
The legal counsel argued that the total amount involved in the case was below the threshold specified for a scheduled offense under the PMLA, 2002, emphasizing that no offense of money laundering could be said to have been committed.

Grant of Anticipatory Bail:
Considering the age of the applicant, lack of criminal history, and the fact that other co-accused had been granted anticipatory bail, the court granted anticipatory bail to the applicant.

Conditions of Bail:
The court imposed conditions for the anticipatory bail, including appearance before the trial court, refraining from influencing witnesses, and not concealing any material facts, with a provision for the Investigating Officer to file for vacation of the bail in case of non-compliance.

This summary provides a detailed overview of the judgment, covering the issues, case details, applicant's involvement, legal interpretation, and the final decision regarding the grant of anticipatory bail with associated conditions.