SANJAY KUMAR AGARWAL Vs. UNION OF INDIA

JUDGEMENT

(1.) The instant revision application is being filed against order dtd. 8/6/2023 passed in Misc. Criminal Application No. 1291 of 2023 by learned Additional Judicial Commissioner XVIII-cum-Special Judge, PML Act, Ranchi, wherein the application filed by the petitioner for discharge in connection with ECIR Case No. 05 of 2021 registered under Sec. 3 punishable under Sec. 4 of the Prevention of Money Laundering Act, 2002 has been dismissed. Facts of the case

(2.) The prosecution case, in brief, as per the complaint filed under Sec. 44 and 45 of the Prevention of Money Laundering Act, 2002 [in short 'PML Act, 2002'], is that a complaint case under the PML Act, 2002 was initiated against the petitioner on the basis of FIR registered by the CBI, ACB, Dhanbad being RC1(A)/2020-D dtd. 10/2/2020.

(3.) It is alleged in the aforesaid FIR, which was registered on the basis of complaint made by one Amit Sarawgi, Director of M/s Adi Ispat (P) Limited, that the petitioner had demanded a bribe of Rs.2,00,000.00 per month for showing leniency in the insolvency resolution process for extending CIR process from 09 months to 02 years and also demanded Rs.20,00,000.00 for obtaining favourable forensic audit/valuation report from his chosen Forensic Auditor/Valuer and for helping in re-possession of plant/company. The petitioner had offered him that SME, the complainant was entitled to participate in the auction proceeding of the Bank and if he met the demands, he would prepare his report leniently enabling him re-possess his plant/company. The complaint was discreetly verified. Trap team was constituted and raid was conducted at Giridih at the Company office, where the petitioner was caught read handed on 11/2/2020 in the presence of independent witnesses accepting the illegal gratification from the complainant.