2024 (11) TMI 293 - SCH - Money Laundering

Seeking grant of bail - Money Laundering - proceeds of crime - scheduled offence - partners of M/s Vikas Construction had encroached on public property by falsification of records - it was held by High Court that 'This Court is unable to persuade itself to form a, prima facie, satisfaction in terms of Section 45 of the PMLA, at this stage, that the applicant is not guilty or that he may not commit an offence on bail. Thus, for all the aforesaid reasons, the bail application is rejected.' HELD THAT - Taking into consideration the peculiar facts and circumstances of the case along with the period of incarceration, the impugned order is set aside and bail is granted to the appellant, subject to the terms and conditions that may be imposed by the Trial Court. The Trial Court shall also, additionally, impose the conditions that the appellant shall fully cooperate with the trial, and shall not make any attempt or endeavour to influence the witnesses and also that he will not leave the country without the leave of the trial court. Appeal allowed.

Summary

The Supreme Court granted bail to the appellant, subject to trial court conditions. The trial is ongoing, with two witnesses examined out of 46. The court requested the trial to be expedited. The appeal was allowed, and pending applications were disposed of.