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JASMEET SINGH
Tarun Kumar – Appellant
Versus
Assistant Director Directorate of Enforcement – Respondent
JUDGMENT Jasmeet Singh, J.
Facts:
1. This is an application seeking bail in Complaint Case No. 20 of 2021 bearing ECIR/DLCO-1/12/2021 arising out of FIR No. RC0742020E0014 wherein the applicant has been charged u/s 13(2) r/w 13(1)(d) of Prevention of Corruption Act, 1988 and u/s 120B r/w 420, 465, 467, 468 and 471 of IPC, 1860 and is in custody since 22.06.2022. The applicant is alleged to have been involved in the offence of money laundering. The allegations against the applicant are that the applicant aided in fraudulent increase of inventory/stock in the account books of M/s Shakti Bhog Foods Limited [`SBFL'] which helped in increasing the borrowings.
2. The SBFL was engaged in manufacturing and selling food items like wheat flour, rice, biscuits, cookies, dalia, gram flour, maida etc. under the established and well-known brand name of `Shakti Bhog'. The company was managed through its Directors/Guarantors - Sh. Kewal Krishan Kumar, Sh. Siddharth Kumar and Smt. Sunanda Kumar. SBFL had around 250 regular employees. It is stated that the applicant was one such employee and was drawing renumeration as an employee.
3. An Investigation revealed that a bank fraud was committed by t
The main legal point established in the judgment is the requirement of reasonable grounds for believing the accused is not guilty of the offense of money laundering under PMLA 2002, and the court's r....
The court denied bail due to substantial evidence indicating the petitioner's involvement in serious economic offences, emphasizing the gravity of the allegations and the need for accountability.
(1) Economic offences having deep-rooted conspiracies and involving huge loss of public funds need to be viewed seriously and considered as grave offences affecting economy of country as a whole and ....
The court granted bail under the PMLA, emphasizing the lack of sufficient evidence linking the applicant to money laundering, and highlighting the necessity for a predicate offence to substantiate ch....
The main legal point established in the judgment is that the twin conditions under Section 45 of PMLA must be satisfied before granting bail in a money laundering case, and the accused's involvement ....
The court emphasized that mere familial connections do not establish complicity in money laundering; direct involvement in proceeds of crime must be proven.
The judgment emphasizes the need for substantial probable causes to believe the accused is not guilty, the requirement to prove allegations beyond reasonable doubt, and the presumption of innocence u....
The main legal point established in the judgment is the application of broad probabilities and prima facie determination in granting bail under PMLA, without converting the bail stage into a mini tri....
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