Anticipatory bail in money laundering cases depends on custody need, fair investigation, and personal liberty, not Section 45 rigour.

The HC applied the settled principles governing anticipatory bail under Section 438 CrPC, requiring case-specific assessment of the accusation, collected material, likelihood of arrest and the need to protect fair investigation. It held that the rigour of Section 45 of the Prevention of Money Laundering Act does not control an application under Section 438 CrPC. On the facts, the petitioner was a retired public servant, most material had already been seized, the investigation had substantially progressed, and custodial arrest was not shown to be necessary. Anticipatory bail was therefore granted.

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Issues: Whether the petitioner was entitled to anticipatory bail in connection with the money laundering investigation.

Analysis: The Court referred to the settled principles governing anticipatory bail under Section 438 of the Code of Criminal Procedure, 1973, and noted that the power is to be exercised on a case-to-case basis having regard to the nature of the accusation, the material collected, the likelihood of arrest, and the need to secure fair investigation. It also held that the rigour of Section 45 of the Prevention of Money Laundering Act, 2002 does not govern proceedings under Section 438 of the Code of Criminal Procedure, 1973. On the facts, the Court found that the petitioner was a retired public servant, most of the material had already been seized, the investigation had substantially progressed, and the apprehension of arrest could be addressed without impairing the inquiry.

Conclusion: The petitioner was held entitled to anticipatory bail.

Ratio Decidendi: Anticipatory bail may be granted in a money laundering investigation where the facts do not show a present need for custodial arrest and the balance of circumstances favours protection of personal liberty; the conditions under Section 45 of the Prevention of Money Laundering Act, 2002 do not control an application under Section 438 of the Code of Criminal Procedure, 1973.

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