PMLA bail relief granted where investigation was complete, with travel restrictions and periodic appearance conditions imposed.

Under-trial custody in PMLA proceedings was found sufficient to justify bail where the investigation was complete and the complaint had been filed, even though the prosecution proposed to examine many witnesses. The Court treated release on bail as appropriate without entering the merits, subject to conditions imposed by the court concerned, including periodic appearance before the Enforcement Directorate and no departure from the country without prior permission. The High Court's refusal of bail was set aside and release on bail was directed.

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Issues: Whether the appellant, an under-trial accused in proceedings under the Prevention of Money Laundering Act, 2002, was entitled to bail and whether the High Court's denial of bail required interference.

Analysis: The appellant had been in custody since 23 August 2023. The allegations were that he, as a hawala operator, assisted in transferring the proceeds of crime. The investigation in relation to the appellant was complete and the complaint had been filed. The prosecution proposed to examine a large number of witnesses. Without entering upon the merits, the Court found bail to be justified subject to terms and conditions imposed by the court concerned, with additional conditions requiring periodic appearance before the Enforcement Directorate and restraint on leaving the country without prior permission.

Conclusion: The appellant was held entitled to bail, the High Court's order denying bail was set aside, and the appellant was directed to be released on bail subject to conditions.

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