2024 (1) TMI 14 - SCH - Money Laundering

Grant of bail - Money Laundering - Section 50 of the Prevention of Money-laundering Act, 2002 - High Court granted the bail subject to conditions - HELD THAT - In view of these prima facie factual findings and stringent conditions imposed while granting bail, thus, no case for interference with the impugned order is made out. As regards condition (d), apart from the fact that the respondent has not challenged the same, the legality of such condition is being examined in another case. In the event, the respondent commits any breach of the terms and conditions on which bail has been granted to him or if he misuses the liberty granted under the impugned order, it is always open for the petitioner to apply to the concerned Court for cancellation of bail. The Special Leave Petition is dismissed.

Summary

Issues involved: Bail granted based on certain grounds, Prima facie factual findings, Examination of legality of conditions imposed

The Supreme Court, in the present case, heard the counsel and considered the grounds on which bail was granted to the respondent. The bail was granted based on several factors, including the respondent's prior incarceration, the maximum possible sentence, lack of criminal antecedents, limited interrogation during custody, and the nature of evidence against the respondent under Section 50 of the Prevention of Money-laundering Act, 2002. The Court noted that the statements under Section 50 had been retracted and did not conclusively establish the respondent as the mastermind. Given these prima facie factual findings and the stringent bail conditions imposed, the Court found no justification to interfere with the impugned order. The legality of one specific condition was mentioned to be under examination in another case, although the respondent had not challenged it. The Court clarified that the findings in the impugned order were provisional for the purpose of bail consideration. It was emphasized that if the respondent violates the bail terms or misuses the liberty granted, the petitioner could seek cancellation of bail through the appropriate legal channels. Consequently, the Special Leave Petition was dismissed, and the pending application was disposed of accordingly.