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Issues: Whether the applicant was entitled to regular bail in a PMLA case in view of prolonged incarceration and the likelihood of delayed trial despite the rigours of Section 45 of the PMLA.
Analysis: The applicant had remained in judicial custody since 28.09.2022, the case involved voluminous documentary material and a large number of witnesses, and there was no realistic prospect of the trial concluding in the near future. The Court treated the right to personal liberty under Article 21 of the Constitution of India as paramount in the given facts and held that continued pre-trial incarceration could not be justified merely by reference to the twin conditions under Section 45 of the Prevention of Money Laundering Act, 2002. The Court also noted the absence of any previous involvement and found no serious apprehension of flight risk, tampering with evidence, or influencing witnesses, particularly because the evidence was largely documentary.
Conclusion: Bail was found to be justified and was granted to the applicant.
Final Conclusion: The proceeding was finally disposed of by admitting the applicant to bail subject to conditions, on the ground that prolonged custody in a trial unlikely to conclude soon would not accord with the protection of personal liberty.
Ratio Decidendi: In a case of prolonged pre-trial incarceration under a stringent special statute, where the trial is unlikely to conclude in the near future and the accused does not pose a substantial risk of absconding, tampering with evidence, or influencing witnesses, Article 21 may justify grant of bail notwithstanding statutory restrictions.