Case Law Details
Sanjay Agarwal Vs Directorate of Enforcement (Supreme Court of India)
This appeal challenges the judgment and order dated 13.04.2022 passed by the High Court of Calcutta in CRM (SB) No.5/2022.
The present case arises out of proceedings initiated by the Enforcement Directorate vide ECIR/KLZO/-II/01/2021 alleging commission of offences punishable under the Prevention of Money Laundering Act, 2002 (for short, ‘the PML Act). The predicate or scheduled offence allegedly committed by the appellant-Sanjay Agarwal is one under Section 132/135 of the Customs Act, 1962, pertaining to diversion of 54 Kgs of primary gold which was imported by the appellant through the canalizing Agency-Metals & Minerals Trading Corporation (MMTC). In terms of the scheme, the appellant was permitted to import primary gold at a reduced rate so that after doing value addition and converting said gold into gold jewellery, he could earn valuable foreign exchange for the country by export of such gold jewellery.
It is alleged that rather than exporting gold jewellery in terms of the obligation, the jewellery was diverted in the domestic market and in the process the offences were committed by the appellant.
It appears that the appellant was admitted to regular bail in connection with the aforesaid offences punishable under the provisions of Customs Act vide order dated 28.08.2018. Upon registration of the proceedings by the Enforcement Directorate on 03.02.2021, the appellant came to be arrested in said PMLA case on 28.11.2021 and has since then been in custody.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
