Anticipatory bail in money-laundering cases remains exceptional where serious allegations and Section 45 restrictions are attracted.

Anticipatory bail in a PMLA prosecution was refused because the allegations disclosed a serious economic offence involving receipt and alleged diversion of funds, attachment of properties said to represent proceeds of crime, and transfer of funds into the applicant's personal account. The applicant had also not appeared before the trial court despite summons, indicating evasion of process. Applying the rigours of Section 45 of the Prevention of Money-Laundering Act, 2002, the Court held that pre-arrest bail is an extraordinary relief in money-laundering matters and should be granted sparingly only in exceptional circumstances. On the facts, no such exceptional circumstance was shown, so bail was declined.

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Issues: Whether anticipatory bail should be granted to the applicant in a prosecution under the Prevention of Money-Laundering Act, 2002, having regard to the nature of the allegations, the applicant's conduct, and the statutory restrictions on bail.

Analysis: The allegations related to a large-scale economic offence involving receipt and alleged diversion of funds, attachment of properties said to represent proceeds of crime, and transfer of funds into the applicant's personal account. The applicant had not appeared before the trial court despite summons and was treated as having evaded the process. In view of the gravity of the offence, the stage of proceedings, the nature of the material collected, and the rigours of Section 45 of the Prevention of Money-Laundering Act, 2002, anticipatory bail was held to be an extraordinary relief not warranted on the facts. The Court applied the settled principle that in economic offences and money-laundering matters, pre-arrest bail is to be granted sparingly and only in exceptional circumstances.

Conclusion: Anticipatory bail was refused.

Ratio Decidendi: In a money-laundering prosecution, where the allegations disclose a serious economic offence, the accused has not joined the proceedings, and the statutory bail restrictions under Section 45 of the Prevention of Money-Laundering Act, 2002 are attracted, anticipatory bail should not be granted unless exceptional circumstances are shown.

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