HC denied bail in money laundering case involving spurious ...

Money Laundering Case: Bail Denied in Cancer Medicine Fraud Scheme Under Section 45 PMLA Despite Rs.1 Crore Threshold Claim

February 1, 2025

Case Laws Money Laundering HC

HC denied bail in money laundering case involving spurious anti-cancer medicine manufacturing scheme. Despite applicant's claim for exemption under Rs. 1 crore threshold per Section 45 PMLA proviso, court found scheme's total value exceeded this limit. Court applied twin conditions under Section 45 PMLA and statutory presumption under Section 24. Evidentiary materials including Section 50 PMLA statements, financial records, and WhatsApp communications demonstrated applicant's involvement in proceeds of crime. Applicant failed to rebut presumption of guilt or satisfy bail conditions. Court emphasized admissibility of Section 50 statements as judicial proceedings, rejecting constitutional challenge. Given ongoing investigation and supplementary prosecution complaint, bail application dismissed.

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HC denied bail in money laundering case involving spurious ...

Money Laundering Case: Bail Denied in Cancer Medicine Fraud Scheme Under Section 45 PMLA Despite Rs.1 Crore Threshold Claim

February 1, 2025

Case Laws Money Laundering HC

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