2024 (10) TMI 1632 - SCH - Money Laundering

Money Laundering - seeking grant of bail - period of incarceration suffered of nearly two years and one month - HELD THAT - It is directed that the appellant Prem Prakash will be released on bail during the pendency of the trial arising out of Prosecution Complaint/ECIR Case No. 04/2022 in ECIR/RNZO/03/2022 dated 08.03.2022 titled Directorate of Enforcement v. Pankaj Mishra Ors. pending before the learned Special Judge CBI-cum-Special Court under PMLA at Ranchi Jharkhand under the provisions of the Prevention of Money Laundering Act 2002. The terms and conditions for grant of bail will be fixed by the trial Court. The impugned judgment is set aside and the appeal is allowed.

Summary

The Supreme Court granted bail to the appellant, Prem Prakash, due to having already served nearly two years and one month in incarceration. The bail is for the trial related to a case under the Prevention of Money Laundering Act, 2002, titled "Directorate of Enforcement v. Pankaj Mishra & Ors." The appellant must comply with specified conditions, including providing a contact number to the Directorate of Enforcement, surrendering his passport, and not leaving India without court permission. The trial court can revoke the bail if there are intentional trial delays. The court emphasized that the bail order does not reflect an opinion on the case's merits.