PMLA bail denied where investigation was ongoing and fresh money-trail material required further inquiry before release

Bail under the Prevention of Money Laundering Act was refused because the investigation was still underway, further witness examination was required, and fresh documents and money-trail material had emerged shortly before hearing. The Court treated the alleged concealment and transfer of proceeds of crime through proprietary concerns, and the breadth of the underlying recruitment scam, as factors weighing against release at that stage. It held that the investigating agency should be allowed to complete its remaining steps before the petitioner could be enlarged on bail.

---

---

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

Analysis: The application arose from allegations of money laundering connected with the transfer and concealment of alleged proceeds of crime through proprietary concerns controlled by the petitioner. The material placed before the Court indicated that investigation was still in progress, that additional witness examination was required, and that fresh documents and money-trail material had surfaced shortly before the hearing. The Court also considered the seriousness and breadth of the alleged teachers' recruitment scam and the need to allow the investigating agency to complete its investigative steps before any release on bail. In that backdrop, the Court found no basis to enlarge the petitioner on bail at that stage.

Conclusion: Bail was refused and the prayer for release was rejected.

---