Kriti Agrawal –
While quashing the proceedings under the Prevention of Money Laundering Act, 2002 (PMLA) brought before the CBI Cases-cum-Special Court, the Telangana High Court declared that the High Court is authorized to prevent misuse of Court process.
Mr. Madhu Koneru, an accused in the file of the Principal Special Judge for C.B.I. Cases-cum-Special Court under the Prevention of Money Laundering Act, 2002 at Nampally, Hyderabad, filed this Criminal Petition under Section 482 CrPC. to nullify the proceedings against him.
Several people were summoned under Section 50 of the PMLA over the course of the inquiry, and their depositions were recorded. Financial accounts and bank statements of people who were involved in the transactions, as well as voluntary declarations, were gathered.
According to the respondent authorities, it is well proved that the accused committed the PMLA offenses based on their statements and the evidence gathered throughout the course of the inquiry.
The Single Bench of Justice G Sri Devi determined that there is no material to proceed against the petitioner under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002, and that he has committed no schedule offenses under the terms of the PML Act.
The Court concluded that the High Court should quash the proceedings if it determines that continuing the proceedings would be an abuse of the Court’s process and that the objectives of Justice necessitate that the proceedings be quashed.
The Bench also stated that the proceedings against the petitioner on the file of the Principal Special Judge for C.B.I. Cases-cum-Special Court in Nampally, Hyderabad, under the Prevention of Money Laundering Act, 2002, are likely to be quashed.
