JUDGEMENT OF THE HON’BLE HIGH COURT OF DELHI IN THE CASE TITLED “ARUN KUMAR MISHRA VS. DIRECTORATE OF ENFORCEMENT, (2015) 04 DEL CK 0154” CONCERNING OFFENCES UNDER PREVENTION OF MONEY LAUNDERING ACT

 

Arun Kumar Mishra vs. Directorate of Enforcement, (2015) 04 DEL CK 0154

PARA NO. 2 & 19

2. Shorn off unnecessary details, the facts as borne out from the petition are that the petitioner is presently working at the post of Chief Engineer (Projects) in Uttar Pradesh State Industrial Development Corporation since 2005. The CBI/ Dehradun branch received an information that five employees of Punjab National Bank (hereinafter referred to as ''PNB'') and other persons had during the period from November, 2005 to December 2006 entered into a criminal conspiracy and made false entries in the accounts of PNB, Vidhan Sabha branch, Dehradun allowing deposits and withdrawal from five fictitious accounts maintained in the name of non- existent persons at PNB, Arya Vanprastha Ashram Branch, Jwalapur, Haridwar. By doing so, said persons misappropriated the funds of PNB and also caused a pecuniary gain to themselves or any other persons and correspondingly pecuniary loss to the PNB. In the said information it was stated that the said persons had obtained an illegal pecuniary gain of Rs. 10,88,987/- (Rupees Ten lakhs eighty eight thousand nine eighty seven) which was the interest accrued on the principal amount of Rs. 3,30,82,105/- (Rupees Three crore thirty lakhs eighty two thousand one hundred and five) deposited in these accounts and subsequently withdrawn.

19. At the outset it may be mentioned that the ECIR discloses the commission of the alleged offences during the period from November, 2005 to December, 2006. Section 3 of the PMLA specifically mandates that the act of money laundering should be intentional, therefore, it has to be traced to the point of time when the actual transaction took place. The offence punishable under Section 120B IPC and Section 13 of the PC Act were inserted in the schedule of PMLA w.e.f. 01.06.2009 i.e. after the period in which the alleged offences have been committed.