PMLA: Bail rejected as satisfactory explanation regarding huge fixed assets & cash not furnished

Chandrama Prasad Singh Vs State of Bihar (Patna High Court) Patna High Court held that as Petitioner failed to furnish satisfactory explanation regarding huge fixed assets and cash available with him, bail application of the Petitioner is rejected. Facts- The petitioner seeks bail in connection with Special (Trial) in which cognizance has been taken for the offences punishable u/s. 3, 4, 44 and 45 of the Prevention of Money Laundering Act, 2002. It is alleged that accused persons including the petitioner have acquired assets by commission of schedule offences and have invested the proceeds of ...