PMLA bail twin conditions remain applicable after amendment; prima facie role and proceeds-of-crime evidence justified refusal of bail.

After the 2018 amendment, the twin conditions in Section 45 of the Prevention of Money Laundering Act, 2002 continue to govern bail applications under the Act, and they operate in addition to the general principles under Section 439 CrPC. A court may grant bail only if it finds reasonable grounds for believing that the accused is not guilty and is not likely to commit an offence while on bail. Section 50 statements may be considered at the bail stage. On the materials noted, including the petitioner's admitted role, receipt of investor funds, commission earnings and prima facie participation in layering proceeds of crime, the conditions were not satisfied and bail was refused.

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Issues: Whether, in a bail application under the Prevention of Money Laundering Act, 2002, the amended twin conditions under Section 45 continue to apply and whether the materials on record made out reasonable grounds for believing that the accused was not guilty so as to warrant bail.

Analysis: The amended Section 45 of the Prevention of Money Laundering Act, 2002 was held to govern bail applications under the Act notwithstanding the earlier declaration of unconstitutionality in respect of the pre-amendment provision. The provisions of the Act override the general bail power under Section 439 of the Code of Criminal Procedure, 1973, and the statutory limitations in Section 45 operate in addition to the general principles governing bail. The statement recorded under Section 50 of the Act was treated as admissible material for bail consideration. On the materials disclosed, including the petitioner's admitted role, receipt of investor funds, commission earnings, and prima facie participation in the layering of proceeds of crime, the Court found that the petitioner's case did not satisfy the requirement of reasonable grounds for believing that he was not guilty.

Conclusion: The twin conditions under Section 45 applied, the petitioner failed to satisfy them, and bail was refused.

Ratio Decidendi: After the 2018 amendment, the twin conditions under Section 45 of the Prevention of Money Laundering Act, 2002 apply to bail applications under the Act, and release on bail can be granted only if the Court is satisfied that there are reasonable grounds for believing that the accused is not guilty and is not likely to commit an offence while on bail.

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