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Issues: (i) Whether the twin conditions under Section 45 of the Prevention of Money Laundering Act, 2002 applied to the bail application. (ii) Whether the accused was entitled to bail on merits or under the proviso to Section 45 of the Prevention of Money Laundering Act, 2002 as a sick and infirm person.
Issue (i): Whether the twin conditions under Section 45 of the Prevention of Money Laundering Act, 2002 applied to the bail application.
Analysis: The earlier decision striking down the unamended twin conditions was confined to the pre-amendment text. After amendment, Section 45 was treated as applying the twin conditions to bail under the Act. The decision noted divergent High Court views, but relied on the absence of any declaration of unconstitutionality of the amended provision and on the fact that the Supreme Court had stayed certain contrary High Court rulings.
Conclusion: The twin conditions under Section 45 of the Prevention of Money Laundering Act, 2002 were held applicable.
Issue (ii): Whether the accused was entitled to bail on merits or under the proviso to Section 45 of the Prevention of Money Laundering Act, 2002 as a sick and infirm person.
Analysis: The materials disclosed a prima facie role in laundering proceeds of crime through companies and foreign accounts, with allegations of large-scale economic offence, possible influence over witnesses, and an investigation at an initial stage. The medical material did not show such serious illness as to justify bail under the proviso, and the accused's own travel history indicated that the ailments were manageable rather than incapacitating. Even apart from Section 45, the ordinary bail considerations weighed against release.
Conclusion: Bail was refused both under Section 45 and under the general principles governing bail.
Final Conclusion: The application for regular bail was dismissed because the statutory bail restrictions were held applicable and the circumstances did not justify release on merits or on medical grounds.
Ratio Decidendi: For bail under the Prevention of Money Laundering Act, 2002, the amended Section 45 twin conditions apply unless the provision is held unconstitutional, and where the record shows a prima facie laundering case, risk of interference with witnesses, and no compelling medical incapacity, bail may be denied even under general bail principles.
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