PMLA bail can be granted when investigation is complete and custody becomes prolonged despite statutory restrictions.

Regular bail may be granted in a money-laundering matter despite the stringent PMLA regime where investigation is complete, the prosecution case is largely documentary, and prolonged custody would amount to undue pre-trial punishment. The court noted that the complaint had been filed, the evidence included statements of co-accused, witnesses and approvers, several retracted, and the trial was unlikely to conclude early because of voluminous material and numerous witnesses. It also relied on the applicant's settled roots and prior bail in the predicate case, holding that concerns about absconding, tampering or witness influence could be met through strict conditions. Bail was therefore granted subject to safeguards.

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Issues: Whether the applicant was entitled to regular bail in a money-laundering case under the statutory bail restrictions, and whether the circumstances of the case justified release on bail.

Analysis: The prosecution case rested largely on documentary material, statements of co-accused, witnesses and approvers, several of which had been retracted. The prosecution complaint had already been filed and investigation qua the applicant was complete. The applicant had remained in custody since 06.03.2023, while the case involved voluminous material and a large number of witnesses, making early commencement and conclusion of trial unlikely. The Court also noted the applicant's settled roots, professional background, and the fact that bail had already been granted in the predicate case. In this backdrop, the Court held that continued custody would amount to undue pre-trial punishment and that the apprehensions of absconding, tampering with evidence, or influencing witnesses could be addressed through stringent conditions.

Conclusion: The applicant was found entitled to bail. The statutory bail restrictions were treated as satisfied on the facts, and regular bail was granted with conditions.

Final Conclusion: The proceeding ended with the applicant's release on bail subject to detailed safeguards, and the petition was disposed of accordingly.

Ratio Decidendi: In a bail petition under the Prevention of Money Laundering Act, where investigation is complete, the prosecution case is substantially documentary, custody has become prolonged, and the risks of absconding or interference can be managed by conditions, bail may be granted notwithstanding the stringent statutory regime.

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