PMLA regular bail denied where prima facie material showed layering of proceeds of crime and Section 45 conditions were not met.

Regular bail under the Prevention of Money-Laundering Act was refused because the prima facie material collected by the Enforcement Directorate showed alleged layering of proceeds of crime through benami bank accounts, routing cash through associates, and acquisition of assets in the names of the applicant and his wife. Statements recorded under Section 50 also supported the prosecution case. On that material, the Court found reasonable grounds to believe the applicant was involved in money laundering and held that the statutory bail conditions under Section 45 were not satisfied.

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Issues: Whether the applicant was entitled to regular bail in a prosecution under the Prevention of Money-Laundering Act, 2002, in the light of the material collected by the Enforcement Directorate and the statutory bar under Section 45.

Analysis: The application was considered on the basis of prima facie material and not on a detailed appreciation of evidence. The material showed alleged layering of proceeds of crime through benami bank accounts, routing of cash through associates, purchase of assets in the name of the applicant and his wife, and supporting statements recorded under Section 50 of the Prevention of Money-Laundering Act, 2002. The Court held that the collected material was sufficient to form a view that there were reasonable grounds for believing that the applicant was involved in the offence of money laundering and that the statutory conditions governing bail were not satisfied.

Conclusion: Bail was declined; the application was rejected.

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