Prolonged pre-trial custody and slow trial justified bail despite special PMLA restrictions, protecting liberty and speedy trial rights.

Bail under the Prevention of Money Laundering Act was granted where the accused had remained in substantial pre-trial custody, the trial had made little progress despite framing of charges, and a large number of witnesses were still to be examined. The Court held that prolonged incarceration, when the trial is unlikely to conclude within a reasonable time, cannot be justified by the special bail restrictions so as to defeat the constitutional rights to personal liberty and a speedy trial. It also noted that the accused had not misused interim bail earlier, while issues such as recovery and quantification of proceeds of crime would be determined at trial.

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Issues: Whether bail should be granted under the Prevention of Money Laundering Act, 2002 in view of prolonged custody, the slow pace of trial, and the constitutional requirement of a speedy trial.

Analysis: The applicant had remained in custody for a substantial period, while the trial had not progressed meaningfully despite charges having been framed and a large number of witnesses still remaining. The Court noted that where continued incarceration has already covered a substantial part of the likely sentence and the trial is unlikely to conclude within a reasonable time, the rigour of the special bail restrictions cannot operate to defeat the constitutional guarantee of personal liberty and speedy trial. The Court also took note that the applicant had not misused interim bail previously granted and that the order of recovery and quantification of proceeds of crime would remain matters for trial.

Conclusion: Bail was granted to the petitioner.

Final Conclusion: Continued incarceration was held unjustified in the circumstances, and the applicant was directed to be released on bail subject to conditions ensuring attendance, cooperation with the trial, and non-interference with the proceedings.

Ratio Decidendi: Where an accused under a special statute has undergone substantial pre-trial custody and the trial is unlikely to conclude within a reasonable time, constitutional courts may grant bail despite statutory restrictions, to protect the right to personal liberty and speedy trial.

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