2024 (7) TMI 558 - SCH - Money Laundering

Seeking grant of bail - money laundering - proceeds of crime - allegation of amassing property and cash - it was held by High Court that 'In this case, of course, the Petitioner is facing a proceeding under PML Act for commission of offence of Money Laundering and, therefore, the rival claims of ED and the petitioner with respect to the offence and the property attached or seized by the ED are subject of adjudication and presumption under PML Act but keeping the Petitioner in custody for the purpose of trial or in anticipation of any other complaint or supplementary complaint which is not in existence at present, would be devoid of any sound logic, especially when the petitioner had already been acquitted for commission of scheduled/ predicate offences and the property seized in connection with that case had already been directed to be returned back to the Petitioner, no matter the criminal appeal against such order of acquittal is pending before this Court.' HELD THAT - It is not required to interfere with the impugned orders passed by the High Court, more particularly, when the respondent has already been acquitted in the predicate offence. SLP dismissed.

Summary

The Supreme Court dismissed the Special Leave Petitions, stating they are not inclined to interfere with the impugned orders passed by the High Court as the respondent has already been acquitted in the predicate offence.