Dr. B.K. Nagarajappa Vs Directorate of Enforcement (Karnataka High Court)
Karnataka High Court granted bail for offence punishable under Section 4 of the Prevention of Money Laundering Act, 2002 [PML Act] taking into consideration the maximum punishment for the alleged offences and that there is no possibility of trial commencing in the near future.
Facts- The petitioner was working as a General Manager of the Karnataka Bhovi Development Corporation for the period between 05.04.2021 to 01.07.2022. FIR was registered before the various Police Stations in the State against the management and employees of the Corporation alleging that there was misappropriation of funds belonging to the Corporation and particulars of the said FIRs.
The respondent subsequently initiated proceedings u/s. 19 of the PML Act against three persons for the offence punishable u/s. 4 of the PML Act and the petitioner herein is arraigned as accused no.2 in the said case. It is alleged that, aforesaid FIRs were registered for the offences punishable u/s. 420 and 120B of IPC etc., which are the scheduled offences and utilising the proceeds of the crime, properties were derived/obtained by the accused, which amounted to offence punishable u/s. 4 of the PML Act.
The petitioner was arrested in the present case on 05.04.2025 and subsequently he was remanded to judicial custody. The bail application filed by the petitioner before the jurisdictional sessions Court was rejected on 28.05.2025. Therefore, he is before this Court.
