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TMI Blog2022 (6) TMI 1213X X X X Extracts X X X X X X X X Extracts X X X X ..... e Section 45 of the Act, 2002 has been amended by Amendment Act 13 of 2008, whereby the words imprisonment for a terms of imprisonment of more than three years under Part A of the schedule has been substituted with accused of an offence under this Act . The Hon ble Apex Court in THE ASST. DIRECTOR ENFORCEMENT DIRECTORATE VERSUS DR. V.C. MOHAN [ 2022 (1) TMI 511 - SUPREME COURT] held once the prayer for bail is made for the offence under PMLA 2002, the rigors principle underlying Section of 45 get triggered on. There are reasonable ground to believe that the applicant is guilty of the offence of money laundering and he is likely to commit the offence, if enlarged on bail - bail application dismissed. - B.A. No.13439 of 2021 - - - Dated:- 16-6-2022 - HON BLE MR. JUSTICE SUBHASH CHAND For the Petitioner : Mr. Ashim Kumar Sahani, Advocate For the State : Mr. Abhay Kumar Tiwari, A.P.P. For the E.D. : Mr. Amit Kumar Das, Advocate Heard learned counsel for the applicant and learned A.P.P. for the State as well as learned counsel for the Enforcement Directorate. 2. This bail application has been filed on behalf of the abovenamed applicant with pray ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... March, 2009 in the bank account of M.S.S. Health Care Ayurvedic Trust. On scrutiny of bank account maintained at Union of Bank of India, Lohardaga, Branch, it is found that regular cash deposits multiple times in a single day more than 50 cash deposits transaction at times in a single day was made. There were two transfers of Rs.60 lacs and 70 lacs on 19th June, 2010 and 9th August, 2010 respectively was made in the bank account of the trust. Likewise in bank account maintained at Bank of Baroda, Ranchi Main Branch, Bank of Baroda, Harmu Branch, Ranchi, Bank of Baroda, Hazaribag Branch, Bank of Baroda, Ramgarh Cant. Branch, Ramgarh and Bank of Baroda, Patna Branch, Patna frequent cash deposit along with many high cash deposit were transferred. Further in the bank account maintained at State Bank of India, Harmu Housing Colony Branch, Ranchi it was found that several cash deposits with frequent withdrawal were made. In fact, the said trust was never indulged in business of sell of land/social work. The aforesaid accused persons launched the deposit schemes by flouting all norms of SEBI, RBI ROC with an ulterior motive and clear intention to cause pecuniary loss to the investors ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the allegations made in the complaint, the documentary evidence and counter affidavit has been filed on behalf the E.D. along with this bail application. It is further submitted that after declaring twin conditions of Section 45(1) of the Act, 2002 unconstitutional by the Hon ble Apex Court in the case of Nikesh Tarachand Shah vs. Union of India Anr. reported in (2018) 11 SCC 1, the said defects have been cured by the Parliament by way of Amendment No.13 of 2018, whereby the provisions of Section 45(1) revived and same would be applicable while considering the bail application of the applicant. 6. For disposal of this bail application, the following provisions of the Act, 2002 are being reproduced as under:- Section 2(p) of the Act, 2002 provides:- (p) money-laundering has the meaning assigned to it in Section 3. Sections 2(y) of the Act, 2002 provides:- (y) scheduled offence means (i) the offences specified under Part A of the Schedule; or [(ii) the offences specified under Part B of the Schedule if the total value involved in such offences is [one crore rupees] or more; or (iii) the offences specified under Part C of the Sch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e applied while considering the bail application of the applicant. 9. This Court is of the considered view that the provisions of Section 45 of the Act, 2002 prior to judgment of Hon ble Apex Court in the case of Nikesh Tarachand Shah (supra) was declared unconstitutional; but the defects of provisions of the said act was cured by the Parliament by way of Amendment Act 13 of 2018 and consequently, the twin conditions of Section 45 while disposing of the bail applicant under the Act, 2002 stood revived. 10. The Hon ble Apex Court in the case of Cheviti Venkanna Yadav vs. State of Telangana reported in 2017 (1) SCC 283 has held as under :- 27. In State of Himachal Pradesh v. Narain Singh while dealing with the validation of statute the court ruled that:- It is therefore clear where there is a competent legislative provision which retrospectively removes the substratum of foundation of a judgment, the said exercise is a valid legislative exercise provided it does not transgress any other constitutional limitation. 11. The twin conditions under Section 45 (1) for the offences classified thereunder in Part-A of the Schedule was held arbitrary and discriminato ..... X X X X Extracts X X X X X X X X Extracts X X X X
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