9911796707
TMI Blog2017 (3) TMI 1766X X X X Extracts X X X X X X X X Extracts X X X X ..... te as per Section 1(3) of the PML Act - HELD THAT:- There is nothing to indicate retrospective in operation specifically that too by virtue of Article 12 of the Constitution of India, it cannot be retrospective in operation. Once the provisions of the Act not given effect as on the date of the alleged act and it is not specific mention of retrospective in operation, there is no penal consequen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ORDER: The revision petitioner is the 2nd accused of S.C.No.108 of 2015 on the file of learned Metropolitan Sessions Judge, Hyderabad. It was for the offence under Section 3 of the Prevention of Money Laundering Act, 2002 (for short PML Act ). A perusal of the enactment shows it was passed in the year 2002 as Act No.15/2003 and came into force with effect fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osed SPV and that he was instrumental in the account opening of Vasishta Vahan Private Limited in HSBC Bank. The alleged transfer of ₹ 3,89,891/- by M/s. Vasishta Vahan Private Limited into the account of the revision petitioner A.2 was prior to the Act came into force with effect from 01.07.2005 as it was the so called amounts transferred to a tune of ₹ 11,67,40,000/- that received by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rdingly and in the result, while setting aside the dismissal of the discharge application of the petitioner/A.2, the revision is allowed and A.2 is discharged for the offence under Section 3 of the Act and his bail bonds stands cancelled unless he is required for any other offence thereto. Consequently, miscellaneous petitions, if any shall stand closed. No costs. - - Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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