2025 (1) TMI 11 - SCH - Money Laundering

Money Laundering - Seeking grant of bail - Money Laundering - proceeds of crime - diversion of funds - disproportionate assets more than 14 crores - it was held by High Court that ' It is deemed appropriate to allow this application and the applicant herein enlarged on bail subject to the conditions imposed' - HELD THAT - It is not inclined to interfere with the ultimate conclusion arrived at by the High Court, taking into consideration the length of time, coupled with the fact that a complaint has already been filed. SLP dismissed.

Summary

In the Supreme Court judgment, Justices M.M. Sundresh and Aravind Kumar addressed a Special Leave Petition. The Court noted that the impugned judgment relied on the precedent set in "Nikesh Tarachand Shah v. Union of India - (2018) 11 SCC 1." However, they referenced the more recent legal principles established in "Vijay Madandal Chaudhary & Ors. v. Union of India - 2022 SCC OnLine (SC) 929." Despite finding the impugned judgment unsustainable in law, the Court chose not to interfere with the High Court's conclusion due to the elapsed time and the fact that a complaint had already been filed. Consequently, the Special Leave Petition was dismissed, and any pending applications were disposed of.