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Issues: Whether the petitioner was entitled to bail under the Prevention of Money Laundering Act, 2002 in the light of the arrest power under Section 19 and the twin conditions for bail under Section 45.
Analysis: The arrest under the Prevention of Money Laundering Act, 2002 was examined against the statutory requirement that the authorised officer must have material giving reason to believe, recorded in writing, that the person is guilty of an offence under the Act. The Court also considered that bail under Section 45 depends upon an opportunity to the Public Prosecutor to oppose the application and, where opposed, satisfaction of the Court that there are reasonable grounds for believing that the accused is not guilty and is not likely to commit an offence while on bail. On the facts, the petitioner had cooperated with investigation, had been repeatedly examined, no incriminating material was seized from the residence, no funds were shown to have been received in the petitioner's account, and no charge sheet had been filed in the predicate offence despite prolonged investigation. The Court found that continued incarceration was not justified and that the statutory requirements for bail were satisfied.
Conclusion: Bail was granted to the petitioner.
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