PMLA bail assessed on ordinary principles where merits-based exoneration stood unreversed and no flight risk was shown.

Regular bail under the Prevention of Money Laundering Act, 2002 was considered on ordinary bail principles after the Section 45 twin conditions were held unconstitutional. The Court relied on the Adjudicating Authority's merits-based finding that the properties were not involved in money laundering, and no appellate order reversing that finding was shown. In the absence of specific material indicating tampering with the investigation, absconding, or any continuing need for custodial interrogation, the applicant's custody since 09.11.2020 did not justify further detention. Bail was granted.

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Issues: Whether regular bail should be granted in a prosecution under the Prevention of Money Laundering Act, 2002, where the Adjudicating Authority had recorded a finding exonerating the applicant on merits and the statutory twin conditions in Section 45 of the Act were held unconstitutional.

Analysis: The bail application was examined on the ordinary parameters governing bail, since the twin conditions in Section 45 of the Prevention of Money Laundering Act, 2002 had been declared unconstitutional. The material placed before the Court showed that the Adjudicating Authority had recorded findings that the properties in question were not involved in money laundering, and no order of the Appellate Authority varying or setting aside that finding was shown. The Court also noted absence of any specific material showing tampering with investigation, risk of absconding, or any continuing need for custodial interrogation. The maximum punishment was stated to be up to seven years, and the applicant had remained in custody since 09.11.2020.

Conclusion: Bail was granted to the applicant.

Ratio Decidendi: Where the adjudicatory finding exonerating the accused is on merits and no contrary appellate order is shown, bail under the Prevention of Money Laundering Act, 2002 must be assessed on ordinary bail principles without applying the invalid twin conditions of Section 45.

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