Regular bail in PMLA prosecution where trial delay persists - appellants granted release as trial unlikely to finish promptly

Appellants are accused of using proceeds of crime of approximately Rs.73 lakhs derived from the predicate offence; despite serious charges against some accused and the rigours of the PMLA, prolonged pre-trial incarceration exceeding two years and six months and only the commencement of trial led the Supreme Court to find the trial unlikely to be completed within a reasonable time. For that reason the court granted regular bail to the appellants and allowed the appeals, releasing them pending trial.

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

Analysis: The proceedings concern offences under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002 and the applicability of the stringent framework under Section 45 of the PMLA. Relevant facts considered include the alleged proceeds of crime amount, the stage of the trial, the period of pre-trial incarceration exceeding two years and six months, and the prospects of completion of trial within a reasonable time. The balance between the statutory rigour applicable to PMLA offences and the impact of prolonged pre-trial detention on the accused was examined, with emphasis on delay in trial as a factor warranting bail where trial is not likely to conclude within a reasonable time.

Conclusion: Bail granted to the appellants; impugned orders set aside and appellants released on bail on terms and conditions to the satisfaction of the Trial Court (in favour of the appellants).

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