Bail in money-laundering prosecution declined where alleged assets exceeded lawful income and investigation remained ongoing.

Bail under Section 439 CrPC was sought in a prosecution under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002. The Court noted allegations of substantial properties said to have been acquired far beyond the petitioner's known lawful income, with investigation also identifying additional assets and the inquiry still continuing. In view of the seriousness of the alleged money-laundering offence and the ongoing investigation, the Court found no basis to exercise bail jurisdiction in favour of the petitioner. Bail was declined and release on bail was refused.

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Issues: Whether the petitioner was entitled to bail under Section 439 of the Code of Criminal Procedure, 1973 in a prosecution under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002.

Analysis: The allegations concerned substantial properties said to have been acquired far beyond the petitioner's known lawful income, with the complaint and investigation indicating properties of very high value and further identification of assets during investigation. The Court considered the seriousness of the alleged money-laundering offence and the fact that the investigation was still continuing. On these facts, the Court found no basis to exercise bail jurisdiction in favour of the petitioner.

Conclusion: Bail was declined and the petitioner was not entitled to release.

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