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of <h1>Alleged misappropriation and fund diversion: whether Section 45 PMLA twin bail conditions satisfied; bail upheld, SLP dismissed</h1> Dominant issue: Whether the twin conditions in Section 45, PMLA-(i) that the accused is not guilty of the scheduled offence and (ii) is not likely to ... Money Laundering - seeking grant of regular bail - predicate/scheduled offence - misappropriation of funds availed through loan from the consortium of banks, and thereafter, diversion of the same into different entities - twin conditions mandated under Section 45 of the PMLA for grant of bail have been satisfied by the applicant or not - the High Court has released the respondent on bail u/s 3 and 4 of the Prevention of Money Laundering Act, 2002 - HELD THAT:- The Apex Court is not inclined to interfere with the judgement passed by the High Court. The Special Leave Petition is, accordingly, dismissed. Issues: Whether the Special Leave Petition challenging the High Court's order releasing the respondent on bail should be entertained or whether the Supreme Court should refuse interference.Conclusion: Special Leave Petition dismissed; no interference with the High Court's order granting bail to the respondent; delay condoned and all pending applications disposed of.
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