9911796707
TMI Blog2024 (3) TMI 597X X X X Extracts X X X X X X X X Extracts X X X X ..... proceeds of crime including its concealment, possession, acquisition or use and projecting or claiming it as untainted property shall be guilty of offence of money-laundering. Therefore, the allegation in the ECIR against the applicant that he was involved in the process or activity connected with the proceed for crime and its concealment. Therefore, even if, as on today, he is not an accused in the FIR will not be a ground for anticipatory bail in view of rigor of Section 45 of the PMLA Act. At this stage, this Court cannot held that the applicant is not guilty of the offence under the PMLA Act. In the case of Y.S. Jagan Mohan Reddy [ 2013 (5) TMI 896 - SUPREME COURT ] the apex Court has held While granting bail, the court has to keep in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have already been registered at different Police Stations against Dilip Sisodia and his associates. On the basis of 7 FIRs, the respondent Directorate of Enforcement registered 4 different ECIRs in respect of Dilip Sisodia @ Deepak Jain; Devi Ahilya Shramik Kamgar Co-operative Society; Trishala Grih Nirman Co-operative Society; Sriram Grih Nirman Co-operative Society. The present applicant is an accused in respect of sale of the properties belonging to Kalpataru Grih Nirman Society, in which, FIR has been registered against Dilip Sisodia for defrauding the society by diverting Rs. 4.89 Crores in his own personal account. The present applicant Jakir Patel was the authorized of the aforesaid society. The funds were utilized by Dilip Sisodia. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the Court of competent jurisdiction, there can be no offence of moneylaundering against him or any one claiming such property being the property linked to stated scheduled offence through him. It is further submitted that the offence u/s. 3 of the PMLA Act is dependent on the illegal gain of the property as a result of criminal activity related to a scheduled offence. In the present case, no such property belonging to the society found in the name of the present applicant. The applicant fully cooperated during investigation. No arrest was made during the investigation. He is an income tax payee person. There is no need to arrest the applicant and he is entitled for grant of anticipatory bail. 4. On the other hand, Shri Himanshu Joshi, lea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t releasing the lands of poor persons who invested their hard earned money to purchase the land. Therefore, if they are released on bail, the poor plot owners will not get possession of their land. The present applicant and other accused are not making serious efforts for settlement in this matter despite several efforts made by co-ordinate Bench of this Court. I have heard the learned counsel for the parties and gone through the material available on record. 5. The present applicant was the Manager of the society viz. Kalpataru Grih Nirman Society at the relevant point of time. Section 3 of the PMLA Act says that whosoever directly or indirectly attempts to indulge or knowingly assists or knowingly is a party or is actually involved in any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t triggered in either case before the relief of bail in connection with the offence of money-laundering is taken forward. Any other view would be counterproductive and defeat the purposes and objects behind the stringent provision enacted by the Parliament for prevention of money-laundering and to combat the menace on account of such activity which directly impacts the financial systems, including the sovereignty and integrity of the country. 141 . As a result, we have no hesitation in observing that in whatever form the relief is couched including the nature of proceedings, be it under Section 438 of the 1973 Code or for that matter, by invoking the jurisdiction of the Constitutional Court, the underlying principles and rigors of Section 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
