Economic offences and ongoing investigation justified refusal of regular bail where flight risk and interference concerns remained substantial.

Regular bail under the Prevention of Money-laundering Act, 2002 was refused because the alleged laundering involved a serious economic offence, the money trail was extensive, and the investigation remained materially ongoing. The HC treated economic offences as a distinct class at the bail stage and found that the record indicated a real risk of the petitioner absconding or influencing the inquiry, including contact with co-accused and possible interference with investigation. On those facts, the Court held that custody had not neutralised the apprehension of flight risk or tampering, and the petition for regular bail failed on merits.

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Issues: Whether regular bail should be granted to the petitioner in a prosecution under the Prevention of Money-laundering Act, 2002 in the face of allegations of a large-scale laundering network, flight risk, and apprehension of interference with the investigation.

Analysis: The application was examined on the basis of the gravity of the alleged economic offence, the magnitude of the money trail, the continuing investigation into associated persons and entities, and the material indicating that the petitioner remained in contact with co-accused and was capable of influencing the inquiry. The Court treated economic offences as a distinct class requiring a different approach at the bail stage. It also considered the possibility of the petitioner absconding, particularly in view of the record placed before it and the circumstances suggesting that custody alone had not neutralised the risk of interference.

Conclusion: Bail was declined and the petitioner was held not entitled to regular bail.

Final Conclusion: The petition for bail failed on merits because the Court found the alleged laundering activity serious, the investigation incomplete in material respects, and the risk of flight and interference substantial.

Ratio Decidendi: In prosecutions involving grave economic offences, regular bail may be refused where the investigation is still materially ongoing and the record indicates a real apprehension of absconding or tampering with the inquiry.

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