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ARTICLE · 13 JANUARY 2023

White Collar Updates

Phoenix Legal
Phoenix Legal
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Phoenix Legal

Phoenix Legal

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Phoenix Legal shares recent developments in the area of white-collar crimes from 29th November 2022 to 12th December 2022.

IndiaCriminal Law

DATE

DETAILS OF THE RECENT DEVELOPMENTS

CASES

29.11.2022

Mr. Narendra Kumar Gupta (Petitioner) was arrested on the basis of an ECIR registered for offences punishable under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002 (PMLA) for allegedly abetting in the offence of International Trade Based Money Laundering by receiving proceeds of crime in the Bank Account of the Hong Kong Company owned by him, and thereby caused loss of Foreign Exchange to the tune of Rs. 22.60 crores. The Petitioner while praying for bail claimed that he was a mere scapegoat in the hands of one Sukhjeet and that three similarly places persons involved in the alleged offence were granted bail. The Petitioner also claimed that he was suffering from a terminal disease and was entitled to bail.

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