Accused need not satisfy twin test for bail under Section 45 PMLA while appearing before special court: Supreme Court

The Supreme Court has held that an accused, who has not been arrested by the ED during a money laundering probe, while appearing before a special court pursuant to summons issued by such court, need not satisfy the stringent twin test for bail under Section 45 of the Prevention of Money Laundering Act (PMLA).

The Bench of Justice Abhay S Oka and Justice Ujjal Bhuyan further ruled that the national agency could not arrest an accused who appeared before a special court after issuing of summons in a PMLA complaint, without obtaining permission of such court.

It said that if the ED wanted custody of an accused after the person appeared on issuance of summons, ED could only get custody after filing an application before the special court. Further, the court would only grant custody with reasons satisfying that custodial interrogation was needed.

The Bench further ruled that in essence, ED officers could not use their special powers to arrest an accused under Section 19 of the PMLA once they have moved a complaint against the accused who was not arrested during the course of investigation.

As per Section 19 of PMLA, ED officers can arrest an accused if they have a reason to ‘believe’ that the person was guilty of an offence punishable under the Act.

The Apex Court passed the order in a case dealing with whether an accused in a money laundering case still has to meet the stringent twin test for bail after appearing before the special court pursuant to the summons issued on the ED’s complaint.

On April 30, the top court of the country had reserved its judgment in the matter.

It raised the question of whether the accused can apply for bail under regular provisions of the Code of Criminal Procedure (CrPC) if he appeared, pursuant to the summons issued by the special court under the PMLA.



from India Legal https://ift.tt/56LD49b

Popular posts from this blog

What Is Solana: A Description, Use Cases, Prospects

Most traders focus on well-known cryptos only, like BTC or Ether. However, today, there are many other blockchain networks that are worth considering. And some of them, for example, Solana, even have ambitions to force current leaders out. Thus, we offer you to get acquainted with this coin without a delay. Solana (SOL) is one of the blockchain platforms created for performing transactions at a high speed and at a cheap price similar to other networks of this kind. Likewise, it can be utilized for trading, paying for diversified goods and services, performing smart contracts, creating NFTs, accessing decentralized financial opportunities, for example, loans, etc. Yet, when one asks the question “ What is Solana? ”, one usually wants to find out if it is worth buying, in the first place. Thus, we must note right away that this network outcompetes other popular platforms both in terms of speed and in terms of costs. To be more precise, it can process 13 deals per second, while Bitcoin
Read more

FX Options Trading: Best Online Brokers

Never used options on Forex? Looks like you missed lots of profitable deals. Be sure to learn more about this method and decide whether it suits you. Start by reading our short review for beginners. In the end, we will give you a list of companies that offer the best terms for such trades. Let us start with a short theory about this trading method. In practice, an option is a contract that allows a trader to buy or sell a certain currency at a chosen price and on a chosen date.  FX options trading  is based on forecasts. For example, if a potential buyer believes that the price of a certain currency will grow in the future, he can reserve the right to buy it at a lower price. For this opportunity, one must pay a commission (or a premium). Another crucial point is that executing such deals is optional. When the date agreed comes, one can decide whether it is worth buying or selling the currency chosen. Also Read: Interactive Brokers Fees: An Overview for Potential Users And what abo
Read more

Crypto Trading Bot: Should You Try It and Which One to Choose

Are you searching for an instrument that will help you trade crypto at minimum risk and time expense, but with maximum earnings? Then, try a trading robot. Find the basic information about this tool and the list of the most reliable and effective products offered by the market. So, such a robot is a program that executes trades involving crypto in an automated mode based on the market situation and parameters set by its user. It can make use of diversified algorithms, patterns, signals provided by other traders, etc. Here are the major benefits such software can offer:   Time economy. A day trader does not have to spend a whole day monitoring the market.   No human mistakes. Such a program operates in strict accordance with the parameters and algorithm set. By contrast with traders, it cannot make mistakes due to fatigue or external distractions.   Fast reaction. Compared to humans, it takes a bot less time to analyze the current situation on the market and to react to changes in
Read more