2024 (8) TMI 722 - SCH - Money Laundering

Seeking to be released on bail - appellant, Humayun Suleman Merchant, is more than 75 years of age and has already suffered actual incarceration for four years and nine months - HELD THAT - The appellant, Humayun Suleman Merchant, will be released on bail during the pendency of trial in connection with Supplementary Prosecution for the offence(s) punishable under Section 4 of the Prevention of Money Laundering Act, 2002, on terms and conditions to be fixed by the trial court. The appellant, Humayun Suleman Merchant, will surrender his passport and will not leave India without the permission of the trial court. In case of non-compliance with the terms and conditions, it will be open to the trial court to cancel the bail . The impugned judgment is set aside and the appeal is allowed.

Summary

The Supreme Court granted bail to Humayun Suleman Merchant, who is over 75 years old and has already served nearly five years in incarceration. The bail is for the trial related to a money laundering case under the Prevention of Money Laundering Act, 2002. Merchant must surrender his passport and stay in India unless permitted by the trial court. Non-compliance may result in bail cancellation. The court clarified that the bail grant does not indicate an opinion on the case's merits.