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ANOOP KUMAR MENDIRATTA
Siddharth Kumar – Appellant
Versus
Enforcement Directorate – Respondent
JUDGMENT :
ANOOP KUMAR MENDIRATTA, J.
1. An application for bail under Section 439 of Code of Criminal Procedure, 1973 (‘Cr.P.C.’) has been preferred on behalf of petitioner Siddharth Kumar seeking regular bail in ECIR/ 12/DLZO-I/2021 dated 31.01.2021 registered under Section 3/4 of Prevention of Money Laundering Act, 2002 (‘PMLA’).
2. Brief facts for the purpose of disposal of present application are culled out from para ‘3’ of order dated 29.01.2023 passed by the Hon’ble Apex Court on an application for bail preferred on behalf of co-accused Tarun Kumar which has been reported as Tarun Kumar v. Assistant Director Directorate of Enforcement, 2023 SCC OnLine SC 1486. The application preferred on behalf of co-accused Tarun Kumar was thereby dismissed:
(i) M/s. Shakti Bhog Foods Ltd. (SBFL) was engaged in manufacturing and selling food items under the brand name of “Shakti Bhog”. The company was managed through its Directors/Guarantors - Sh. Kewal Krishan Kumar, Sh. Siddharth Kumar and Smt. Sunanda K
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.
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....
(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 ....
Bail should not be denied as a form of punishment; however, in cases of money laundering, serious allegations and potential interference with investigations warrant careful consideration against bail....
Bail is to be denied in economic offenses when serious, substantiated evidence of money laundering exists, per provisions of the Prevention of Money Laundering Act.
The main legal point established in the judgment is the application of bail provisions under PMLA and the conditions for granting bail in money laundering cases.
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....
Prevention of Money Laundering Act, 2002 – Sections 45 and 50 – Criminal Procedure Code, 1973 – Section 439 – Bail application – Acquisition of disproportionate assets and laundering of tainted cash ....
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....
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