2024 (5) TMI 940 - SCH - Money Laundering

Supreme Court Grants Bail to 68-Year-Old Money Laundering Accused Due to Critical Health Conditions.

The SC granted bail to the petitioner, accused of money laundering under the PMLA, due to significant medical conditions, pursuant to the Proviso to ... Grant of bail - Money Laundering - bail sought on medical grounds under proviso to Section 45 of the Prevention of Money Laundering Act, 2002 - failure to repay the loans - HELD THAT:- A case for bail is made out, inasmuch as, under Proviso to Section 45 of the Prevention of Money Laundering Act, 2002, the medical condition of an accused who is in jail is a relevant factor for consideration by the Court before granting bail - the petitioner is of 68 years of age and has a dead pancreatic gland. An insulin pump has been connected to his body which regularly monitors and pumps required insulin from time to time. He is also suffering from ailments related to prostate and is taking constant medication for high blood pressure. The petitioner is directed to be released from jail on the usual conditions imposed by the concerned Court, and in addition to that, the passport of the petitioner shall be seized if not already taken, and out of the two sureties, one will be of a close blood relative. This is subject to the condition that the petitioner cooperates fully in the ongoing investigation. SLP disposed off. Issues Involved: Bail under Proviso to Section 45 of the Prevention of Money Laundering Act, 2002 based on medical condition of the accused.Summary:The Supreme Court, comprising HON'BLE MR. JUSTICE SUDHANSHU DHULIA and HON'BLE MR. JUSTICE PRASANNA BHALACHANDRA VARALE, heard a case involving the petitioner, an accused in a money laundering case under Section 3 read with Section 4 of the Prevention of Money-Laundering Act, 2002. The petitioner, Abdul Rasheed @ A.R. Babu, sought bail citing medical conditions and assets worth over Rs. 100 crores attached by the Enforcement Directorate due to alleged loan default and improper investment of funds from property sale.Upon considering the facts, the Court found merit in granting bail to the petitioner due to his medical condition, as per the Proviso to Section 45 of the Act. The petitioner, aged 68, with health issues including a dead pancreatic gland, insulin pump dependency, prostate ailments, and high blood pressure, was ordered to be released from jail subject to standard bail conditions. Additionally, his passport was to be seized, one surety required to be a close blood relative, and cooperation in the investigation mandated.The Court disposed of the special leave petition and any pending applications in light of the above decision.