Court Grants Regular Bail in Money Laundering Case

The court granted the petitioner regular bail under the Prevention of Money Laundering Act, 2002, in a case involving alleged VAT refund fraud. Despite opposition from the State citing the seriousness of the charges and the petitioner's past involvement in similar cases, the court considered factors such as the amount received by the petitioner, his age, and time spent in custody. The court noted that the petitioner was not a director of the company involved in the fraud and that a lesser amount than claimed was transferred to his account. The petitioner was ordered to be released on regular bail upon fulfilling the required bond conditions.

---

---

Issues:
Grant of regular bail under the Prevention of Money Laundering Act, 2002.

Analysis:
- The petitioner sought regular bail in a case under the Prevention of Money Laundering Act, 2002, related to alleged VAT refund fraud.
- The FIR alleged that the petitioner benefited from wrongly availed VAT refund funds transferred through various accounts.
- The petitioner's counsel argued that he was falsely implicated due to his familial relations with co-accused and that the transferred funds were for his maintenance.
- The State counsel opposed bail, citing the petitioner's past involvement in similar cases and the seriousness of the current charges.
- The court noted that the petitioner was not a director of the company involved in the fraud and that a lesser amount than claimed was transferred to his account.
- The court considered the applicability of Section 45 of the PMLA, which was subject to exceptions for amounts less than Rs.1 crore post-amendment in 2018.
- Despite the State's objections, the court granted bail due to the amount received by the petitioner, his age, and his time in custody.
- The court ordered the petitioner's release on regular bail upon satisfying the necessary bond requirements.

---