2024 (5) TMI 1346 - SCH - Money Laundering

Seeking grant of Regular bail - Money Laundering - scheduled offences/predicate offences - illegal extortion of coal transportation - HELD THAT - As on date there is no predicate offence under Section 384 of IPC or any other provision of IPC against the petitoiner - The chargesheet has been filed only under Sections 204 and 353 of IPC, and both are not scheduled offences under PMLA - As regard to the observations made by the Karnataka Police in the chargesheet, reproduced above, Mr. Raju, learned ASG, fairly states that so far, the Chhattisgarh Police have not registered any offence under Section 384 of IPC, nor has any investigation conducted by them, has been brought to the notice of the Enforcement Directorate. Six weeks time granted to the Enforcement Directorate to find out the status of that investigation and place on record the additional affidavit along with the relevant material - he petitioner has already undergone incarceration for about one year and seven months - the petitioner has made out a prima facie strong case for his enlargement on interim bail. The petitioner is directed to be released on interim bail subject to his furnishing bail bonds to the satisfaction of the Special Court, Raipur, Chhattisgarh - Post the matter for further hearing on 07.08.2024.

Summary

Issues involved: Whether the petitioner is entitled to be released on regular bail in a case registered under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002.

Summary:
1. The case involved the consideration of the petitioner's entitlement to regular bail in a case registered under the Prevention of Money Laundering Act, 2002.
2. The FIR was initially registered under various sections of the Indian Penal Code against an individual and his associates for obstructing officials and destroying evidence related to alleged illegal activities.
3. Alleged transactions regarding the sale and purchase of properties between the individual and the petitioner's companies were noted.
4. The Central Board of Direct Taxes forwarded the case to the Directorate of Enforcement, leading to the registration of the crime case.
5. The petitioner was arrested by the Enforcement Directorate, which subsequently filed a statutory complaint.
6. The Karnataka Police filed a chargesheet dropping certain IPC offences, and the Chief Judicial Magistrate took cognizance of non-scheduled offences under the PMLA.
7. After hearing arguments, it was noted that no predicate offence under the IPC was present against the petitioner, and the chargesheet did not involve scheduled offences under the PMLA.
8. The Enforcement Directorate sought time to investigate the status of the case with the Chhattisgarh Police.
9. Considering the petitioner's incarceration and lack of involvement in specific charges, interim bail was granted pending further investigation.
10. The petitioner was directed to be released on interim bail, subject to fulfilling bail bond requirements, with the matter scheduled for further hearing.