Rs 7.68 Crores Fraud against Home Buyers and Investors: Allahabad HC rejects Bail on Lack of Satisfaction u/s 45 of PMLA [Read Order]
Rejecting bail of the petitioner alleged in Rs 7.68 crores, the Allahabad High Court ruled that the meteoric rise of the applicant and his firms in business with the business aid, encouragement and boost from mainly M/s Shine City indicates prima facie complicity of the applicant
The Allahabad High Court rejected bail on the lack of satisfaction under Section 45 of the Prevention of Money Laundering, 2002 ( PMLA ) in the matter relating to Rupees 7.68 crores fraud against home buyers and investors. The applicant has filed the bail application in terms whereof proceedings under Prevention of Money Laundering Act,…
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