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TMI Blog2022 (4) TMI 993X X X X Extracts X X X X X X X X Extracts X X X X ..... .No.62 of 2016 on the file of the Special Court constituted under Section 43(1) of Prevention of Money Laundering Act, 2002 (Principal Sessions Judge), Chennai, the present petitions have been filed. 2. The minimum facts that are required for deciding these two quash petitions are as follows: 2.1 For the sake of convenience, the parties would be referred to by their respective names. 2.2 One G.Srinivasan (A1) and R.Manoharan (A2) entered into a criminal conspiracy to cheat Global Trade Finance Limited (hereinafter referred to as 'GTFL'), a subsidiary of Global Trust Bank, pursuant to which, R.Manoharan (A2) in collusion with S.Arivarasu (A5), Manager of GTFL applied for a loan with fake documents. Arivarasu (A5) sanctioned a loan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat during the month of February 2010, he purchased immovable properties at Dindigul District from one Shri R.Ayyappan, a resident of No.57-B, Vinayaka Apartment, Padmavathi Nagar Main Road, Virugambakkam, Chennai - 92, who was the power of attorney of (1)P.Rajendran, a resident of Door No.85, Metrathi Village, Kaspa, Udumalaipet Taluk, Tirupur District (Annexure VIII), (2) P.Venkatachalapathy, a resident of Door No.4/756, Ayyalu Meenakshi Nagar, Darapuram Road, Udumalaipet Taluk, Tirupur District (Annexure VII) and (3) K.Vignesh, a resident of Door No.13-A, Mariappa Layout, Thillai Nagar, Udumalaipet, Tirupur District and got the same registered at the Chathirapatti SRO, Dindigul District as detailed hereunder: Sl. No. Details of Landed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ents at Dasaripatti Village, Ottanchatthiram Taluk 381/2010 8,64,000/- K.Kalimuthu, S/o.Kandasamy Gounder, Paaraivalasu, Chikkanaayakkanpatti Village, Ottanchatthiram Tk, Dindigul Dist. 4. 112 Acres 53 Cents at Pudukottai Village, Ottanchatthiram Taluk 382/2010 75,15,000/- V.Kuppusamy, S/o.Veluchamy, Sengaatuppudur, Ambalikkai Village, Ottanchatthiram Tk, Dindigul Dist. R.Natarajan, S/o.Ramasamy, Paaraivalasu, Chikkanaayakkanpatti Village, Ottanchatthiram Tk, Dindigul Dist. V.Nattuthurai, S/o.N.Veluchamy, Vadipatti, Kaspa, Vadipatti Village, Ottanchatthiram Tk, Dindigul Dist. 2.4 While this being so, GTFL was merged with State Bank of India and during reconciliation of the accounts, it was found that GTFL had given the loan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rl.O.P.Nos.2821 and 5638 of 2017. 3. Heard Mr.J.V.Niranjan, learned counsel for the petitioners/accused and Mr.N.Ramesh, learned Special Public Prosecutor for the Enforcement Directorate. 4. This Court carefully perused the impugned complaint in C.C.No.62 of 2016 and the accompanying documents. The admitted case of the Enforcement Directorate in the impugned complaint is that Srinivasan (A1) and Manoharan (A2) had conspired to take a loan, submitted fake documents to Arivarasu (A5), the Manager of GTFL and obtained a loan of Rs. 15 Crores which they siphoned off for their personal use. At this juncture, it may be relevant to state here that, the Enforcement Directorate issued orders of provisional attachment under Section 5 of PMLA on 10. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ., (i) A criminal activity should have been committed; (ii) Some money should have been generated via the criminal activity; (iii) The money so generated (proceeds of crime) should have been projected as untainted one. 10. In this case, there is no shred of material to show that A8 to A15 had committed any criminal activity at all. A8 had purchased lands for his business from A4, A6 and A7 through their power agent Ayyappan and thereafter, he sold those lands to A9 to A15 for a valuable consideration. In paragraphs 13.7 and 13.8 of the impugned complaint, the allegations against A8 to A15 are as under: 13.7 It is humbly submitted that Shri K.Gunaseelan having purchased the immovable property from the power of attorney holder of Shr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... first understand what constitutes the offence of money laundering. Under Section 3 of the Act, the kind of persons responsible for money laundering is extremely wide. Words such as "whosoever", "directly or indirectly" and "attempts to indulge" would show that all persons who are even remotely involved in this offence are sought to be roped in. An important ingredient of the offence is that these persons must be knowingly or actually involved in any process or activity connected with proceeds of crime and "proceeds of crime" is defined under the Act, by Section 2(1)(u) thereof, to mean any property derived or obtained directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence (which is referred to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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