ORDER DATED: 03/10/2025
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the year of 2018 whereas the Cryptocurrency has been brought under the
purview ... when the predicate
offence was allegedly committed by the present applicant, the Cryptocurrency
was not covered under the PML Act , and therefore, no provisions
which are in respect of lawful transfer of money through
cryptocurrency route, that too upon payment of requisite
commission amount, without anything else. Therefore ... applicant is
the person who has arranged for the funds through
cryptocurrency and witnesses namely Pragneshbhai PW
No.59 and Pravinbhai Ex.60 have given
accused, more particularly, by converting the proceeds of
crime into USDT/Cryptocurrency for the purpose of commission.
Learned senior advocate would submit that since ... conversion of proceeds of crime from
Indian currency to USDT/cryptocurrency against the commission.
The present applicant is not stated to be involved
their money in the
Crypto Currency and they were promised that the Cryptocurrency by informing
them the same was going to be listed ... first informant and the other victims for investing their money in
Cryptocurrency by informing them that the Cryptocurrency is going to be
listed
Colour Merchants Co Op Bank Ltd vs Reserve Bank Of India on 4 July, 2024
against Shailesh
Babulal Bhatt and others in connection with the extortion of
cryptocurrencies and cash (INR) from DhavalMavani
(accused in FIR No. 06/2018 dated ... generated, possessed and acquired by the accused persons
in the form of Cryptocurrencies, the actual quantum of the
process of crime is way too high
regard to the accused
having transacted substantial large amount of money in
cryptocurrency, more particularly, the allegation being that
the said amount were proceeds
address in the State of Gujarat and the payments
were made through cryptocurrency. It is an international racket
involving the countries like New Zealand
accused that the Applicant was
introducing the scheme of cryptocurrency; however, no
monetary benefit has accrued to the present Applicant. Till
date, from the investigation
from him, he had stated that he was into
the business of cryptocurrency, and had come in
contact with one Vinit Prasad of Delhi ... told
him to give up the cryptocurrency business and start
supplying him bank accounts. Pursuant to which,
the said Kirat Jadvani along with his partner
