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of HC, exercising jurisdiction under PMLA, upheld the legality of the petitioner's arrest under s.19, noting proper recording and communication of 'reasons to believe' and service of written grounds of arrest, duly acknowledged by the petitioner. On culpability, HC found prima facie material in the prosecution complaint and statements recorded under s.50 indicating that the petitioner directly participated in money laundering activities involving use, acquisition, possession, concealment and projection of proceeds of crime as untainted. Applying ss.19, 45(1) and 45(2), HC held the stringent twin conditions for bail were not satisfied, given the gravity of the economic offence, sophisticated modus operandi, and substantial loss to the exchequer. Finding no exceptional circumstances, HC dismissed the bail application.
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