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RAHUL BHARTI
Mohammad Shafi Dar – Appellant
Versus
Directorate of Enforcement – Respondent
JUDGMENT
Heard the learned counsel for both sides. Perused the pleadings and the documents therewith.
2. The petitioner is suffering continuing judicial custody on account of his arrest carried out by the Directorate of Enforcement (“ED” in short) Srinagar Zonal Office by reference to a Case No. ECIR/SRZO/04/2021 dated 31.03.2021.
3. The petitioner came to be arrested on 30.11.2023 by the ED in purported exercise of its power to arrest vested under section 19 of the Prevention of Money Laundering Act, 2002.
4. The factual background in which the ED came to emerge on the scene and register an Enforcement Case Information Report (“ECIR” in short) No. ECIR/SRZO/04/2021 dated 31.03.2021 needs to be set out first before coming to deal with the facts and circumstances of the present case in light of which the petitioner is pressing for and seeking bail under section 439 of Criminal Procedure Code, 1973 read with section 44(2) of the Prevention of Money Laundering Act, 2002.
5. The petitioner is claimed to have been elected to be on the Board of Directors of the J&K State Cooperative Bank, Srinagar in December 2018. The tenure of the elected Board of Directors of the J&K State Cooperative
Bail application – For sake of consideration of grant or non-grant of bail, exercise in name of application of judicial mind to be done by Court has to be stretched or restricted only to prima facie ....
The court emphasized the need for prima facie evidence and considered the specific provisions of the Prevention of Money Laundering Act, 2002, in granting bail to the petitioner.
The absence of 'proceeds of crime' negates the charge of money-laundering under the Prevention of Money-Laundering Act, 2002.
The court held that the petitioner is entitled to bail under Section 45 of the Prevention of Money Laundering Act, 2002 as there were no reasonable grounds for believing that she had committed an off....
The court emphasized that in economic offences under the PMLA, bail is not granted unless the accused proves they are not guilty and unlikely to commit further offences.
The court established that under the PMLA, an accused can be convicted for money laundering even if not formally accused in the predicate offense, emphasizing the independent and serious nature of ec....
The offence of money laundering under the PMLA is independent, and involvement in proceeds of crime suffices for liability; stringent conditions for bail must be met.
Bail in economic offences should be denied to protect the larger public and state interest and prevent tampering with witnesses.
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