9911796707
TMI Blog2021 (4) TMI 507X X X X Extracts X X X X X X X X Extracts X X X X ..... the Coordinate Bench in Criminal Bail Application No.1322 of 2020. 2. Applicant is seeking his enlargement on bail in Special Case No.09 of 2017 in ECIR/05/MBZO/2016 registered by the Directorate of Enforcement, Bombay for the offence of money laundering punishable under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002 as amended. 3. It is the second bail application. The first bail application was rejected by this Court vide order dated 29th November, 2019. Grounds urged in support of this application, were also urged in the first bail application except to say that orders granting bail to co-accused Sanjay Jain on 2nd May, 2018 and Saurabh Pandit on 4th October, 2018 were not brought to the notice of this Court. Thus, ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Part A of Paragraph 1 of the Schedule under the provisions of Prevention of Money Laundering Act, 2002 (PMLA, 2002), as amended (hereinafter referred to as the said Act). Accordingly, the Directorate of Enforcement, MZO recorded an ECIR vide ECIR/05/MZO/2016 dated 11.05.2016 under the provisions of PMLA, 2002 against M/s. Yogeshwar Diamonds Pvt. Ltd., M/s. Shree Charbhuja Diamonds Pvt. Ltd., M/s. Kanika Gems Pvt. Ltd. and its Directors viz. Mr. Anil Kumar Moolchand Toshniwal, Sunil Kumar Chokhara and Anil Chokhara for investigation. (iii) That investigation resulted into fling of Complaint Case No.09 of 2017 before the Hon'ble Court of Sessions Judge, City Civil and Sessions Court for Greater Bombay at Mumbai, (Designated Court under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,81,124/-)} to Hong Kong based entities/companies in the guise of import advance and post import remittances using forged Bills of Entry and bogus Invoices submitted to the bank and (v) The Investigation revealed the following facts/material, in respect of Vijay Kothari, Accused No.1-Applicant in Complaint Case No.09 of 2017: (a) He was the proprietor of M/s. Kothari Impex; (b) He was one of the Directors in the four companies viz a) M/s. Parasmani Exim Pvt. Ltd., b) M/s. Keshariya Diamonds Pvt. Ltd., c) M/s. Khushi Gems Pvt. Ltd., and d) M/s. Sanskar Exim Pvt. Ltd.; (c) That during 2013-14, M/s. Kothari Impex and aforesaid four companies, wherein he was director, transferred amounts to the accused companies viz M/s. Yogeshwar Diamo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fined in Section 2 (1)(u) of PMLA, 2002. CONDUCT OF APPLICANT: 6. At the outset, it may be stated that although the offences under the PML Act was registered in 2017 as applicant was not available for investigation, though process was issued on 19th June, 2017, he had, not joined investigation until he was declared proclaimed offender on 12th February 2018. SUBMISSIONS: 7. The learned counsel for the applicant submitted, the co-accused Sanjay Jain and Saurabh Pandit were released on bail on 2nd May, 2018 and 14th October, 2018 respectively, but for some reasons, these two orders were not brought to the notice of the Court when the first bail application was heard on 29th November, 2019. I have perused the order granting bail to Saurabh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and accused companies. Prima-facie, evidence suggests, applicant was managing and controlling financial affairs of accused and beneficiary companies. Whereas, one co-accused was an employee of a beneficiary company and another, was director. Besides, evidence suggests, both co-accused had joined the investigation; soon after they were summoned and co-operated investigation. Thus, in my view, these two orders, granting bail to the co-accused do not further the case of the applicant. 8. Be that as it may, reply fled by the Enforcement Directorate suggests, that the investigation is not complete and non-co-operation of the applicant has resulted into lack of financial information available with the respondent in respect of over-seas companie ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
