The Punjab and Haryana High Court granted bail to a person accused of Money Laundering by earning huge amounts in cash through Hawala business in the Netherlands.
The case has been registered against petitioner, Shiv Lal Pabbi at the instance of the Enforcement Directorate on the ground that a letter was received from the Ministry of Home Affairs, vide which the original letter sent by the Embassy of Netherlands was endorsed, wherein a request was made for legal assistance in the matter of petitioner Shiv Lal Pabbi and others for their involvement in money laundering as they were indulged in secret banking and were having various assets in Dubai and India. The letter further states that the offense registered by the Dutch Police corresponds to Sections 420 and 467 of the IPC, which are scheduled offenses under Part “A” of the PMLA. On the basis of the same, the aforesaid case/ECIR was registered on 07.09.2020 by the ED as per Part “C” and Section 58 of the PMLA.
The ED on the basis of the conclusion of investigation has argued that the petitioner has earned a huge amount in cash by way of underground bank/Hawala business in the Netherlands, which was generated as commission to cover up his legitimate business and the petitioner, in conspiracy with co-accused Mukesh Sharma, has prepared certain documents, which amounts to tax evasion in the Netherlands and also amounts to forgery, cheating, and money laundering as no permission was taken by him in the Netherlands.
The single-judge bench of Justice Arvind Singh Sanghwan held that when the investigation is complete and charge sheet is filed in the Court, the conclusion of the trial is likely to take a long time, a person/accused like the present petitioner, who is aged about 63 years old, can be released on bail, subject to his furnishing bail/surety bonds and with a condition that his passport shall remain deposited with the Court/Prosecuting Agency and he will not leave the country without seeking prior permission of the Court.
The court while allowing the bail directed the petitioner will furnish bail and two sureties to the satisfaction of the Trial Court/Illaqa Magistrate, out of which, one surety will be a local surety.
“The passport of the petitioner will remain in the custody of the prosecuting agency or the trial Court and the petitioner will not leave India without prior permission of this Court. The petitioner will furnish an undertaking that he will appear before the Investigating Agency as well as the trial Court as and when he is required and in case, he defaults in appearance, it will be open for the prosecution to apply for cancellation of his bail,” the court added.
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