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TMI Blog2023 (11) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... ty of the offence of money laundering. As per the explanation, a person shall be guilty of money laundering if such persons is found to have indirectly or directly attempted to indulge or knowingly assisted or knowingly is a party or is actually involved in any of its concealment, possession, acquisition, use etc. in any manner whatsoever. Prima facie, involvement of the applicant comes within the purview of Section 3 of the PML Act. Under Section 22 of the PML Act, there is a presumption as to the record or property in certain cases, according to which where any record or property is found in the possession or control of any person in the course of a survey or a search, such record or property shall be presumed to be belonging to such p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Prevention of Money Laundering Act, 2002 (in short PML Act), Indore. 02. Facts of the case in short are as under:- 2.1. Two First Information Reports i.e. F.I.R. No.159/2021 161/2021 were registered by Police Station Khajrana against Deepak Jain @ Dilip Sisodiya, Omprakash Danwani, Dipesh Kumar Vora, Kamlesh Jain, Naseen Haider and Keshav Nachani on account of fraud in sale and purchase of land belonging to two Housing Co-operative Societies. As per the F.I.R. referred above, the rightful owners are in possession of the plots sold to them by Majdoor Panchayat Grih Nirman Co-operative Society, Indore since 1996. However, Deepak Jain @ Dilip Sisodiya in conspiracy with the then President of the Society, Shri Depesh Jain and other of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... after defrauding Kalpataru Housing Society by diverting an amount of Rs. 4,89,27,472/- in his account, Deepak Jain @ Dilip Sisodiya returned the amount of Rs. 70,00,000/- to the account of Kalpataru Housing Society and remaining amount of Rs. 4,15,00,000/- from the Society's bank account to his personal bank account. He utilized the said amount for purchase of two immovable property. During investigation, he admitted that he transferred the ownership of one of the properties in the name of Ashok Pipada i.e. present applicant by way of same transaction as no money was transferred, therefore, the present applicant prima facie committed the offence under Section 3 of PML Act and knowingly assisted Deepak Jain @ Dilip Sisodiya in process ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l reflects that the TDS of Rs. 2,30,000/- was paid on 27.07.2022 vide challan No.75472 through ICICI Bank, therefore, the authorities have wrongly included the name of present applicant in this crime without examining the validity of genuineness of the sale deed. The present applicant gave a loan of Rs. 3,42,89,088/- to Deepak Jain @ Dilip Sisodiya out of which Rs. 1,33,12,299/- was adjusted in sale of plot No.426 and remaining amount has not been returned till date, he has filed a civil suit which is pending before the District Court, Indore, therefore, the proceedings are liable to be quashed against the present applicant. 04. I have heard learned counsel for the parties at length and perused the record. 05. Section 3 of the PML Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ealment, possession, acquisition or use shall be guilty of the offence of money laundering. As per the explanation, a person shall be guilty of money laundering if such persons is found to have indirectly or directly attempted to indulge or knowingly assisted or knowingly is a party or is actually involved in any of its concealment, possession, acquisition, use etc. in any manner whatsoever. 07. As per prosecution case, prima facie the money which Deepak Jain @ Dilip Sisodiya received by way of crime was utilized for purchase of property and out which one was transferred by way of shame and bogus sale deed. After the matter was taken into investigation under PML Act, the applicant hurriedly filed a civil suit showing the so called loan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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