2024 (12) TMI 845 - SCH - Money Laundering

Seeking permission to withdraw the present petitions with liberty to apply for bail - Money Laundering - scheduled offences - charging of illegal commission - Sale of unaccounted illicit country liquor wherein usage of hologram along with other methods was modus operandi - payment of annual commission by distilleries for operation of cartel, which make out a cognizable offence under Sections 7 and 112 of the PC Act and section 420, 467, 471 and 120B of the IPC - it was held by High Court that ' From perusal of the FIR and the ECIR in question, it cannot be said that no prima facie offence whatsoever is disclosed against the petitioners. Moreover, the material collected during the investigation goes to show that the nature of offences committed by the accused/ petitioners has caused huge financial loss to the State exchequer and the estimated proceeds of crime is of around Rs. 2161 Crores.' HELD THAT - The special leave petitions are disposed of as withdrawn with liberty to apply for grant of bail. If such applications are made, considering the peculiar facts of the case, the concerned Special Court shall give necessary priority to disposal of the bail applications.

Summary

The Supreme Court allowed the petitioners to withdraw their petitions with liberty to apply for bail. In one case, the court noted disturbing features where the petitioner was summoned by the Enforcement Directorate and arrested without valid reason. The court disposed of the special leave petitions with liberty to apply for bail, emphasizing that the Special Court should prioritize the disposal of bail applications considering the case's peculiar facts.