PMLA regular bail refused as prima facie proceeds-of-crime links and twin conditions under section 45 were not satisfied.

Regular bail under the Prevention of Money Laundering Act was declined because the allegations showed a prima facie link to proceeds of crime through cash deposits, routed funds, insurance policies and investment in assets and business interests. The Court treated bail under section 45 as subject to the mandatory twin conditions and noted that economic offences involving deep-rooted conspiracy and public loss require serious scrutiny. It also found that the risk of tampering with evidence could not be ruled out. The petitioner's departmental exoneration was noticed, but it did not alter the bail outcome.

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Issues: Whether the petitioner was entitled to regular bail in a prosecution under the Prevention of Money Laundering Act, 2002.

Analysis: The allegations disclosed a prima facie link between the petitioner and the alleged proceeds of crime, including cash deposits, routing of funds through bank accounts and insurance policies, and investment of tainted money in assets and business interests. The Court noted that bail under section 45 of the Prevention of Money Laundering Act, 2002 is governed by mandatory twin conditions, and that economic offences involving deep-rooted conspiracy and large public loss must be treated seriously. It also observed that, in the facts of the case, the apprehension of tampering with evidence could not be ruled out. The petitioner's departmental exoneration was noticed, but no comment was made on its effect for the bail decision.

Conclusion: Regular bail was declined, as the statutory conditions for bail were not satisfied and the case did not justify release at that stage.

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