Case Law Details
Preeti Chandra Vs Directorate of Enforcement (Delhi High Court)
Delhi High Court held that the proviso to section 45(1) Prevention of Money Laundering Act, 2002 (PMLA) is an exception and once a person comes within the exception, the twin condition of Section 45 PMLA will not be applicable to such person.
Facts- This is an application seeking grant of bail in complaint case which pending before learned ASJ-06, Special Judge (PMLA), Patiala House Court. Notably, the applicant is the wife of Sanjay Chandra who was the Director of M/s Unitech Group.
Between 2006 to 2022, 74 FIRs were registered by Delhi Police and CBI, against Promoters of Unitech Group i.e. Ramesh Chandra, Ajay Chandra, and Sanjay Chandra and their associates under sections 34, 201, 406, 409, 120B, 420, etc. of Indian Penal Code, 1860 and under section 7, 7(A), 8,9,10,12 & 13 of Prevention of Corruption Act, 1988.
The Applicant is also accused of incorporating, overseeing and managing a benami organization called Trikar Group alongside her husband, Mr. Sanjay Chandra. The funds obtained from illegal activities, which were kept in foreign accounts of Trikar Group in locations such as Cayman Islands, Singapore, and Mauritius, were illegally transferred to the tune of Rs. 401.07 crores to the accounts of Indian companies with Trikar Group.
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