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Issues: Whether the petitioners were entitled to bail in proceedings under the Prevention of Money Laundering Act, 2002, in the light of the twin conditions under Section 45 of that Act and the prolonged period of incarceration.
Analysis: The bail jurisdiction under the Prevention of Money Laundering Act, 2002 is controlled by Section 45, which requires the Court, after hearing the Public Prosecutor, to be satisfied that there are reasonable grounds for believing that the accused is not guilty and is not likely to commit any offence while on bail. The Court noted that the provisions of the Code of Criminal Procedure, 1973 apply only to the extent they are not inconsistent with the Act, and that the Act has overriding force. The materials placed showed that the petitioners had remained in custody for about 14 months, the complaint in the money-laundering case had already been filed, and the predicate offence investigation had not yet culminated in a charge sheet, making early commencement of trial unlikely. The Court also considered the petitioners' explanations regarding their alleged involvement and found, on the material available at the bail stage, that the statutory conditions stood diluted. The possibility of absconding or tampering with evidence was held capable of being addressed through stringent conditions.
Conclusion: The petitioners satisfied the requirements for bail under Section 45 of the Prevention of Money Laundering Act, 2002 and were entitled to be enlarged on bail.
Ratio Decidendi: In a bail application under the Prevention of Money Laundering Act, 2002, the statutory twin conditions must be assessed on broad probabilities, and where continued pre-trial incarceration becomes indefinite and trial is not likely to commence within a reasonable time, constitutional liberty under Article 21 may justify grant of bail with safeguards.
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