The High Court granted bail to the applicant Padam Singhee in a...

The High Court granted bail to the applicant Padam Singhee in a money laundering case under the Prevention of Money Laundering Act (PMLA). The applicant was accused of siphoning off loans by indulging in criminal conspiracy and generating proceeds of crime. Although the applicant had been granted bail in the predicate offence, no charge sheet had been submitted in that case regarding the present issue related to Punjab National Bank. The court held that the PMLA case and the predicate offence must be tried together by the same court, which was not possible at present since the predicate offence was yet to see its charge sheet. Adhering to the principle of "bail is the rule, and jail is an exception," the court granted bail to the applicant, who had been in custody since February 7, 2024, subject to furnishing a personal bond and two sureties to the satisfaction of the concerned court and fulfilling conditions imposed in the interest of justice.