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2023 (2) TMI 1278 - SCH - Money LaunderingSeeking grant of bail - Money Laundering - prosecution did not feel necessity to put the petitioner to custodial interrogation and/or arrest him for being taken to judicial custody - HELD THAT - No meaningful purpose will be served by retaining the petitioner in judicial custody and the conclusion of trial is likely to take reasonable time, but without expressing any views on the merits of this case, we are inclined to enlarge the petitioner on bail. The petitioner is, therefore, directed to be released on bail, subject to his furnishing bail bonds to the satisfaction of the learned Special Judge - SLP disposed off.
Issues:
Enlargement on bail in connection with ECIR No.02/2020 for alleged offence under Prevention of Money Laundering Act, 2002. Analysis: The petitioner sought enlargement on bail in connection with ECIR No.02/2020, arising from ECIR No. RNSZO/02/2017 for the alleged offence under Section 3 read with Section 4 of the Prevention of Money Laundering Act, 2002, pending in the Court of the Additional Judicial Commissioner-XVIII-cum-Special Judge, PMLA, Ranchi, Jharkhand. It was noted that during the investigation, the prosecution did not find it necessary to subject the petitioner to custodial interrogation or arrest for judicial custody. The first report was filed on 08-05-2020, and the petitioner surrendered on 03-11-2021, remaining in custody since then. It was acknowledged that the co-accused had already been enlarged on bail by the Court. After hearing the arguments from both sides and considering that retaining the petitioner in judicial custody would serve no meaningful purpose, the Court, without expressing any opinion on the case's merits, decided to enlarge the petitioner on bail. The Court noted that the trial's conclusion is likely to take a reasonable amount of time. The Court directed the petitioner to be released on bail, subject to furnishing bail bonds to the satisfaction of the learned Special Judge. Additionally, the petitioner was instructed to continue appearing before the Trial Court regularly and not prolong the trial. The Special Leave Petition was disposed of accordingly, with the petitioner being granted bail under the specified conditions.
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