Bail Granted Under Money Laundering Act: Court Emphasizes Parity with Co-Accused, Sets Strict Compliance Conditions. The Ct granted bail to the applicant under Sections 3 & 4 of the Prevention of Money Laundering Act, 2002, emphasizing parity with co-accused who had ...
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Bail Granted Under Money Laundering Act: Court Emphasizes Parity with Co-Accused, Sets Strict Compliance Conditions.
The Ct granted bail to the applicant under Sections 3 & 4 of the Prevention of Money Laundering Act, 2002, emphasizing parity with co-accused who had previously received bail. Despite the respondent's opposition, the Ct noted the co-accused faced more serious allegations. Bail conditions included a PR bond, sureties, passport surrender, and compliance with court appearances, with potential legal consequences for violations.
Issues involved: Grant of bail u/s 3 & 4 of Prevention of Money Laundering Act, 2002; Parity with co-accused; Sufficiency of evidence; Conditions for bail.
In the present case, the applicant sought bail under Sections 3 & 4 of the Prevention of Money Laundering Act, 2002. The applicant's counsel argued for bail based on parity with co-accused individuals who had been granted bail earlier. It was contended that the applicant's case was better than the co-accused, as no money trail or details of proceeds of crime were provided for the applicant, unlike the co-accused. The counsel also highlighted that the applicant had been in custody for a considerable period due to multiple IPC cases, where he had been granted bail. The rejection of anticipatory bail was also mentioned, emphasizing the issue of parity.
The respondent, opposing the bail, pointed out that the applicant, as the Director and Controller of VYAPAM, was in charge of the establishment and multiple FIRs under the IPC had been filed against him. It was mentioned that the statement recorded u/s 50 would be included in the supplementary charge sheet, along with references to the applicant's role as detailed in the complaint.
After considering the arguments from both sides and noting that the co-accused had been granted bail earlier, the Court found that the allegations against the co-accused were more serious. Given the likelihood of a lengthy trial due to numerous witnesses, the Court granted bail to the applicant on similar terms as the co-accused. The conditions for bail included executing a PR bond, furnishing sureties, submitting residential address proof, surrendering the passport, attending court dates, refraining from tampering with evidence or pressurizing witnesses, and allowing the respondent to take legal action in case of condition violations.
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