The Calcutta High Court denied bail to an accused involved in siphoning ₹76 crore, emphasizing the need for urgent action by authorities under the Prevention of Money Laundering Act (PMLA).
Calcutta HC Denies Bail for Siphoning ₹76 Crore Under PMLA
The Calcutta High Court has dismissed a bail application for an accused involved in the siphoning of ₹76 crore by subverting the Supreme Court's asset liquidation process. The court directed the Directorate of Enforcement to promptly ensure the presence of an absconding co-accused to facilitate the trial.
The Bench referred to the serious nature of the allegations under the Prevention of Money Laundering Act (PMLA) and stressed the urgent need for compliance with judicial directions to ensure accountability. The court viewed the accused's actions as a significant derogation from lawful proceedings.
This ruling highlights the court's firm stance on ensuring that individuals accused of substantial financial irregularities are held accountable, and it reinforces the urgency of prosecutorial measures under the PMLA.
Citations
- Calcutta HC (2026) Criminal Reporter 1
