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of <h1>Bail under PMLA in alleged loan diversion money laundering allowed with bond and sureties; higher review declined to disturb it</h1> Bail applications under the Prevention of Money Laundering regime involving alleged diversion or siphoning of bank loan funds were considered with ... Seeking grant of bail - Money Laundering - proceeds of crime - diversion/siphoning off the said loan amount, thereby failing to repay the said loan amounts to the banks - key member in the crime conspiracy - reasonable grounds to believe or not - applicability of the twin conditions for bail u/s 45 of the PMLA - it was held by High Court that 'Considering the entirety of facts and circumstances, the Court is inclined to grant bail to the present applicant. The applicant is therefore directed to be released upon his furnishing a personal bond in the sum of Rs. 1 lakh with two sureties of the like amount each to the satisfaction of learned trial court/Duty Magistrate, subject to fulfilment of conditions imposed.' HELD THAT:- The Apex Court is not inclined to interfere with the impugned judgment and order of the High Court; hence, the special leave petition is dismissed. Outcome: Special Leave Petition dismissed [No detailed order].
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