Law:

Section:

Criminal Procedure Code (V of 1898)---- ---S.497(2)---Foreign Exchange Regulation Act (VII of 1947), Ss.2(h), 5 & 23---Anti-Money Laundering Act (VII of 2010), Ss.3 & 4---Running the business of Hundi, Hawala, Money Laundering and dealing in foreign currency without permission---Bail, grant of---Further inquiry---Contention of accused persons was that Authority, under S.2(h) of the Foreign Exchange Regulation Act, 1947, before raiding the shop wherein alleged business was being run, should have ascertained that "person" was in possession of "proceeds of crime", but said procedure was not followed---Cumulative reading of S.3 of Anti-Money Laundering Act, 2010 showed that expression 'proceeds of crime' which would mean any money or property derived or obtained by any person, directly or indirectly, as a result of criminal activity, appeared to be a pre-requisite of an offence---Court was to see whether there existed reasonable grounds, which would prima facie connect accused with the offence committed---Accused persons, were not the owners of the shop from where alleged amount and bank receipts were recovered---Held, it was difficult to visualize at bail stage the role of accused persons in the commission of the alleged offence, which needed further inquiry---Bail petition, was allowed in circumstances. JUDGMENT MUSARRAT HILALI, J.---Petitioner, through instant petition, seeks bail in case FIR No.38 dated 16-6-2015 registered for offence under sections 5/23 FER Act, 1947, 3/4 AML Act, 2010 by Police Station FIA/CBC, Peshawar. 2. According to the contents of FIR, the FIA received information regarding money laundering, hundi and hawala business being carried out by Haji Adam Khan and his son Noroz. Believing the same to be true, an FIA team raided their shop situated at Chowk Yadgar, Peshawar, wherein, the petitioners were found busy in running the business of hundi, hawala, money laundering and also dealing in foreign currency without any permission from the competent authority, hence the case was registered. 3. Learned counsel for the petitioners contended that as per Section 2(h) of the Foreign Exchange Regulation Act, 1947 the Authority before raiding…

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