PMLA bail twin conditions not met as prima facie money trail and laundering nexus justified refusal of regular bail.

Regular bail under the Prevention of Money Laundering Act, 2002 was refused because the statutory twin conditions in Section 45 were not satisfied. On the material collected in investigation, including the complaint, recorded statements and the alleged money trail, the Court found prima facie links between the applicant and the laundering activity and concluded that the nexus with proceeds of crime was sufficiently disclosed at this stage. The plea of prolonged incarceration and medical hardship did not outweigh the statutory rigour on the facts presented, so bail was declined.

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Issues: Whether the applicant was entitled to regular bail in a prosecution under the Prevention of Money Laundering Act, 2002, having regard to the statutory twin conditions, the material collected during investigation, and the plea of prolonged incarceration and medical hardship.

Analysis: The application was considered under Section 45 of the Prevention of Money Laundering Act, 2002, which requires the Court to be satisfied that there are reasonable grounds for believing that the accused is not guilty and that he is not likely to commit any offence while on bail. The record was assessed on the basis of the investigation, the prosecution complaint, the statements recorded during investigation, and the material showing the alleged extortion-linked money trail. The Court found prima facie material indicating the applicant's role in the alleged laundering activity and held that the money trail and nexus with the alleged proceeds of crime were sufficiently disclosed at this stage. The plea based on health and long incarceration was not found sufficient to override the statutory rigour of the bail provision on the facts of the case.

Conclusion: The applicant did not satisfy the requirements for grant of bail under Section 45 of the Prevention of Money Laundering Act, 2002, and regular bail was declined.

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