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IN THE HIGH COURT OF JHARKHAND AT RANCHI
MR. JUSTICE SUJIT NARAYAN PRASAD, J
Sanjay Kumar Agarwal, Son Of Late Jagdish Prasad Agarwal – Appellant
Versus
Union Of India – Respondent
JUDGMENT :
SUJIT NARAYAN PRASAD, J.
1.The instant revision application is being filed against order dated 08.06.2023 passed in Misc. Criminal Application No. 1291 of 2023 by learned Additional Judicial Commissioner XVIII-cum-Special Judge, PML Act, Ranchi, wherein the application filed by the petitioner for discharge in connection with ECIR Case No. 05 of 2021 registered under Section 3 punishable under Section 4 of the Prevention of Money Laundering Act, 2002 has been dismissed.
Facts of the case
2. The prosecution case, in brief, as per the complaint filed under Section 44 and 45 of the Prevention of Money Laundering Act, 2002 [in short 'PML Act, 2002'], is that a complaint case under the PML Act, 2002 was initiated against the petitioner on the basis of FIR registered by the CBI, ACB, Dhanbad being RC1(A)/2020-D dated 10.02.2020.
3.It is alleged in the aforesaid FIR, which was registered on the basis of complaint made by one Amit Sarawgi, Director of M/s Adi Ispat (P) Limited, that the petitioner had demanded a bribe of Rs.2,00,000/- per month for showing leniency in the insolvency resolution process for extending CIR process from 09 months to 02 years and also demanded Rs.20,00,000/
The court affirmed that an Insolvency Professional, while performing public duties, qualifies as a public servant under the Prevention of Corruption Act, and the acceptance of bribes constitutes mone....
The PMLA's application is concerned with the ongoing nature of financial misconduct, allowing proceedings even for actions predating its enforcement, where evidence showcases potential 'proceeds of c....
The Prevention of Money Laundering Act proceedings are independent of the predicate offence and must proceed without delay, reflecting the urgency in addressing economic crimes.
The court upheld the necessity of trial for charges framed under the Prevention of Money Laundering Act, emphasizing that prima facie evidence supports the petitioner’s involvement in fraudulent acti....
The trial under the Prevention of Money Laundering Act is independent of any pending trial for the predicate offence, as affirmed by the court.
At the discharge stage, the court must determine if there is sufficient ground for proceeding against the accused based on the prosecution's evidence, without conducting a mini-trial.
The court ruled that in economic offenses, particularly money laundering, anticipatory bail is rarely granted due to the grave nature of allegations and potential interference with investigations.
The Prevention of Corruption Act encompasses both public servants and private individuals in corruption-related offences, allowing for prosecution of those who aid or abet corrupt practices.
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