Bail under PMLA for woman accused upheld where investigation was complete and liberty under Article 21 prevailed.

Where investigation was complete and the charge-sheet had been filed, further custody was unnecessary, and bail had to be assessed in light of personal liberty under Article 21. The Supreme Court held that the proviso to Section 45(1) of the Prevention of Money-Laundering Act, 2002 extends special consideration to a woman accused and cannot be confined to a narrower class of vulnerable women. The High Court misapplied that proviso and the relevant precedent, making the refusal of bail unsustainable. Bail was therefore granted, subject to conditions including execution of bail bonds, non-tampering with evidence, deposit of passport, and regular appearance before the trial court.

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Issues: Whether the appellant was entitled to bail under the proviso to Section 45(1) of the Prevention of Money-Laundering Act, 2002 as a woman accused, and whether the refusal of bail was justified on the facts, including completion of investigation and prolonged incarceration.

Analysis: The complaint and charge-sheet had already been filed, so the appellant's further custody was not required for investigation. The Court reiterated that prolonged pre-trial incarceration should not become punishment without trial and that bail remains the rule while refusal is an exception. It further held that Article 21 of the Constitution of India protects personal liberty, and that the proviso to Section 45(1) of the Prevention of Money-Laundering Act, 2002 gives special treatment to women accused in appropriate cases. The High Court erred in treating the proviso as applicable only to a vulnerable woman and in misapplying the precedent on the first proviso to Section 45(1).

Conclusion: The appellant was entitled to bail, and the refusal of bail by the High Court was unsustainable.

Final Conclusion: The appellant was released on bail, with conditions regarding bail bonds, non-tampering with evidence, deposit of passport, and regular appearance before the trial court.

Ratio Decidendi: Where investigation is complete and the statutory proviso to Section 45(1) of the Prevention of Money-Laundering Act, 2002 grants special consideration to a woman accused, bail cannot be refused by narrowing that benefit to a supposed class of vulnerable women alone; the discretion must be exercised consistently with personal liberty under Article 21 of the Constitution of India.

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