PMLA bail under Section 45: acquittal in the predicate offence and restoration order supported satisfaction of the twin conditions.

Under Section 45 of the Prevention of Money Laundering Act, the Court applied the twin bail conditions requiring reasonable grounds to believe that the accused is not guilty and is not likely to reoffend while on bail. It noted that the petitioner had been acquitted in the predicate offence and that the appellate court had directed restoration of the seized property, with no indication that those orders had been set aside or varied. On that material, the Court found prima facie satisfaction of the statutory requirements and granted bail.

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Issues: Whether the petitioner, prosecuted for alleged money laundering under the Prevention of Money Laundering Act, 2002, satisfied the statutory bail conditions under Section 45 in light of the acquittal in the predicate offence and the appellate direction for restoration of the seized property.

Analysis: The Court considered the settled principles governing bail and the restrictive requirements of Section 45 of the Prevention of Money Laundering Act, 2002, including the need for reasonable grounds to believe that the accused is not guilty and is not likely to commit an offence while on bail. It noted that the petitioner had already been acquitted in the scheduled offence and that the property connected with that case had been directed to be restored to him by the appellate court. In the absence of any showing that those orders had been set aside or varied, and having regard to the material before it, the Court held that these circumstances were sufficient to indicate prima facie satisfaction of the twin conditions under Section 45.

Conclusion: The petitioner was held entitled to bail, and the bail application was allowed.

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