Regular bail under PMLA granted after prolonged custody and no framing of charges despite recovery of proceeds.

Regular bail under the Prevention of Money Laundering Act, 2002 was granted where the accused had remained in custody for more than two years and charges had not yet been framed. The Court treated the prolonged incarceration and the early stage of proceedings as sufficient grounds to enlarge the appellant on bail, despite recovery of a substantial amount of money. Bail was allowed on terms and conditions to the satisfaction of the Trial Court, and the impugned order was set aside.

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Issues: Whether the appellant was entitled to regular bail in proceedings under the Prevention of Money Laundering Act, 2002.

Analysis: The appellant had been in custody for more than two years. The charges had not yet been framed. Though a substantial amount of money had been recovered, the length of incarceration and the stage of the proceedings were treated as sufficient grounds to grant bail.

Conclusion: Regular bail was granted to the appellant on terms and conditions to the satisfaction of the Trial Court, and the impugned order was set aside.

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