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2017 (6) TMI 737 - GUJARAT HIGH COURTBail application - Prevention of Money Laundering Act - Held that:- It may not be out of place to emphasize that even the investigation is not over and even if the investigation is required to be made or is made by the other authority under the other Act like Income Tax Act, by itself would not lead to a conclusion that the investigation under the PML Act is concluded. In fact the authority like Directorate of Enforcement under the PML Act would be justified in proceeding with the investigation on the basis of the revelations and the material found in the inquiry or the investigation under the other statute like Income Tax Act. Therefore, when the investigation by the Enforcement Authority under the PML Act has not yet been over, it may not be possible to arrive at the satisfaction as provided in Section 45(1)(ii) of the PML Act. The submissions which have been made by learned Senior Counsel Shri Vikram Chaudhary that the issue is not settled and therefore when there are divergent views under consideration and where the reference is also made and it has been remanded, it is a case for grant of bail, is thoroughly misconceived. The emphasis made by learned Senior Counsel Shri Vikram Chaudhary that the foundation has to be laid is also misconceived as it is only at the conclusion of the investigation, the picture may emerge with regard to the nature of offence or the class of offence as provided in the schedule. Therefore, in light of the discussion made herein above, the present Criminal Application cannot be entertained and deserve to be dismissed and accordingly stands dismissed
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