In Brief
Tarun Kumar, Vice President of Shakti Bhog Foods Ltd., was arrested for money laundering and related offences after a forensic audit revealed Rs 3,269.42 crore fraud. He was named only in the fourth supplementary complaint despite witness statements implicating him. He challenged his bail denial before the Supreme Court. The Court held that witness statements under PMLA Section 50 are admissible evidence; money laundering is an independent offence not tied to the predicate offence's date; and the twin bail conditions under Section 45 are mandatory. The Court rejected arguments based on parity with other co-accused and delay in trial, emphasizing that economic offences like money laundering pose grave threats to the financial system. The appeal was dismissed.
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