Observations declare that there are no sufficient evidences in proving that the Kerala Journalist Siddique Kappan dealing with ill-gotten money (proceedings of crime), the Lucknow bench of Allahabad high court on Friday, allowed his bail plea in the Prevention of Money Laundering Act (PMLA) case filed by the Enforcement Directorate. He will now be walking out of the jail after 26 months once bail formalities been completed, as the attorney said on Saturday.
ED said that ill-gotten money had been transferred to the accounts of Kappan and his associates by one KA Rauf Sherif, who had received Rs. 1.4 crore from the fraudulent transactions. It is further also stated that the accused applicant (Kappan) was also a part of the criminal conspiracy hatched by KA Rauf Sherif with the other co-accused in disturbing communal harmony, instating riots and spreading terror as the High Court said.
In granting the bail to Kappan, Justice DK Singh said, “Except for allegations that Rs. 5,000 was transferred in the bank account of co-accused Atikur Rahman, there is no other transaction involved, that is, in the bank account of the accused-applicant (Kappan) or in the bank account of the co-accused (Atikur Rahman).” Even if it is believed that part of the proceeds of crime were being transferred into the bank accounts of accused Atikur Rahman, he has dealt with the proceeds of crime amounting to Rs. 1,36,14,291 that were allegedly received by KA Rauf Sherif.
Considering the facts as well as the accused applicant’s contention that, in the present case, the twin situations mentioned in Section 45 of the PMLA have not been attracted in terms of proceeds of crime less than Rs. 1 crore and there is no likelihood of the accused applicant committing the same offence in the future.