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TMI Blog2021 (3) TMI 894X X X X Extracts X X X X X X X X Extracts X X X X ..... the case was registered on 21.02.2020 and it was with respect to the proceeds of crime unearthed by ACB after thorough investigation. More than one year has passed and the investigation in the offences under PMLA is going on. Arrest of accused may be required for effective investigation of crime, but the same cannot be a substitute of post trial punishment. After all, an accused is presumed to be innocent until proven guilty. The golden principle is part of criminal jurisprudence of all civilized nations including India. Stringent conditions of bail under Section 45 of the Act have already been declared ultra vires. The instant petition is allowed and the petitioners are granted pre-arrest bail subject to the conditions: imposed. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted by the petitioners as proceeds of crime , respondent No.2 registered ECIR/02/JMSZP/2020 dated 21.02.2020 for offences under Section 3 r/w Section 4 of PMLA and set the investigation in motion. As is claimed by respondent No.2, during the course of PMLA investigation, it is revealed that petitioner No.2 has sold her immovable property i.e a plot situated in Housing Colony, Channi Himmat, Jammu to one Sh. Pritam Sharma for a sale consideration of ₹ 63 lac by executing a sale deed on 17.09.2016 and that she has also sold her another immovable property i.e a Flat bearing No.1, Block-C on the ground floor in Nidesh Enclave to one Mrs Tabasum for a sale consideration of ₹ 16,95,000/- by executing a sale deed on 27.04.2019. It is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te to their known sources of income. It is urged that the petittioners are not entitled to pre-arrest bail in the offences under Section 3 r/w Section 4 of PMLA. 4. Placing strong reliance on the judgments of Supreme Court in the cases of P. Chidambaram vs. Directorate of Enforcement, (2019) 9 SCC 24 and Y.S.Jagan Mohan Reddy vs. Central Bureau of Investigation, (2013) 7 SCC 439, it is argued that in the cases of economic offences which have serious ramifications on the economy of the nation, the Court should be very strict in granting bail, more particularly, the pre-arrest bail. The investigation in economic offences, it is submitted, is a complicated process and various transactions entered into by the accused to cover up the pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ently when from the conduct of the respondents, the petitioners apprehended their arrest, instant application for pre-arrest bail was filed by the petitioners. This Court, vide its interim order dated 04.02.2021, while granting time to Mr. Vishal Sharma, learned ASG to file objections, also provided that the petitioners shall not be harassed, provided they cooperate with the investigation and make themselves available as and when asked by respondent No.2. 8. Though the respondents have made grievance that they have not been able to get desired cooperation from the petitioners, yet it is on record that they have attended the investigation as and when required by respondent No.2. The grievance of respondent No.2, is however, that though th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a (2018) 11 SCC 1. The position, however, has been remedied by subsequent amendment. Even on merits, what is found by the respondents is possession of disproportionate assets without there being, prima facie, mens rea to pass it off as untainted property. 10. The reliance placed by respondent No.2 on the twin judgments i.e P. Chidambaram vs. Directorate of Enforcement, (2019) 9 SCC 24 and Y.S.Jagan Mohan Reddy vs. Central Bureau of Investigation, (2013) 7 SCC 439 is also misplaced. The aforesaid cases were the cases of economic offences of huge magnitude which had the effect of posing serious threat to the financial health of the country. P. Chidambaram s case (supra) was an investigation in complicated economic offences having hug ..... X X X X Extracts X X X X X X X X Extracts X X X X
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