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TMI Blog2021 (4) TMI 287X X X X Extracts X X X X X X X X Extracts X X X X ..... tion is revealed in detail about utilizing of funds and expenses incurred in Worli, 1973 project and Mahalaxmi SRA project. Therefore, efforts are being made to find out the proceeds of crime, in which both the accused had have played a crucial role in laundering of huge amount of money and is concealing material facts from investigation. The end use of ill-gotten money is still being investigated and therefore, if both the accused released there will be highly probability of tampering of evidence and which cause impediment in investigation for unearth proceeds of crime. Therefore, they submitted that judicial custody of both the accused be extended. 4. The said application (Exh.7) strongly opposed by the learned Advocate Mr. Vijay Agarwal by filing application (Exh.8) titling that, application for opposing any further remand and to forthwith release the applicants on any type of bond or otherwise, as may be directed by this Court. They have raised objection in respect of grant of further judicial custody and relied over the documents and authorities of Hon. Apex Court. They submitted that, in view of the order passed dt.08.02.2021 by the Hon. Bombay High Court in Criminal Revisio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding and the commercial transaction dues cleared by the accused. Hence, there is no claim of any amount remains against the accused. There is no grievance against the accused under Section 420,406,34 of IPC. 7. After filing 'C' report/closure report by the concerned Investigating Officer before the concerned Judicial Offier order came to be passed on 12.02.2021 by 3rd Jt. CJ.J.D & J.M.F.C., Aurangabad, wherein they accepted 'C' final report and Criminal Misc. Application No.434/2021 is rounded off. It has been observed in para No.3 that, considering all above aspects and considering the report of I.O. and say in the form of affidavit filed by informant and the alleged offences punishable under Sections 406,420 read with 34 of I.P.C. are compoundable offences and as it is compounded between the informant and all the accused persons no reason remains to keep the C-Final Report pending further. In view of this order it is submitted that when now FIR and scheduled offence, on which alleged ECIR is based, does not exist, therefore, accused cannot be remanded to the judicial custody. Hence, they be released forthwith on executing any bond. 8. In support of this submissions, reliance ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the proceeds of crime and by projecting it as untainted property. Thus, the offence under section 3 deals with the activity after the commission of a scheduled offence wherein proceeds of crime are generated. Unless and until proceeds of crime are generated, as a result of criminal activity, relating to a scheduled offence section 3 cannot operate. Section 3 is an extended arm or a further limit of offence over and in addition to a scheduled offence. 9. To this learned S.P.P. has submitted that, as per Finance Act, 2019 came into effect on 01.08.2019 to Section 44 (b) of PMLA that, "upon a complaint made by an authority authorised in this behalf under the Act take (cognizance of offence under section 3, without the accused being committed to it for trial)." Therefore, it is clear on that count and it is construed that even if there is having no schedule offence is made out, the Special Court can deal with the offence under PMLA Act. In this matter even initially C.R.No.109/2020 registered with City Chowk Police Station, Aurangabad and on that basis present ECIR has been registered. Therefore, it cannot be said that now acceptance of 'C' summary report present ECIR will debar for f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be use, may be projecting as untainted property or may be claiming as untainted property in any manner whatsoever. The sub-clause (ii) have deals with process of activity which is connected with proceeds of crime is a continuing activity and continues till a person is directly or indirectly enjoying the proceeds of crime by the Act of concealment/possession/acquisition/ use. Therefore, unless and until this separate offence is brought in twofold form in respect of money laundering, which is proceeds of crime, we cannot say that mere acceptance of 'C' summary can be vitiated the basis of ECIR as scheduled offence under Sections 420,406,34 in this matter has been compounded and 'C' summary final report came to be accepted. 13. It is true that the scheduled offence is now compounded due to acceptance of 'C' report as per order of concerned J.M.F.C., Aurangabad. But this cannot be overruled the authority of this Special Court under PMLA to make further progress in offence of money laundering when it was prima-facie brought on record. The scheduled offence is genesis of the ECIR, but definitely pruning of one branch do not shrivel the whole tree. The act committed under PMLA is distin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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