TaxTMI 
TaxTMI 
2020 (6) TMI 91
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....the parties. This application is for grant of bail in connection with Complaint Case No. 09 of 2018 wherein cognizance has been taken for offences under Section 4 of the Prevention of Money- Laundering Act, 2002 against the petitioner. Allegation against the petitioner is that the petitioner amazed huge amount of movable and immovable property from his criminal activity in connection with twenty-six criminal cases against the petitioner. Most of them were registered for offences "Scheduled" under Prevention of Money-Laundering Act, 2002. The prayer for bail is on the ground:- (a) That the petitioner is in jail since 14.06.2019 after remand in this case from some other case and investigation of the case is already complete.....
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....arge and even to the State Exchequer. Learned Additional Solicitor General submits that the economic offences are a class in itself and the gravity is an extremely relevant factor while considering bail. (ii) The principles of P. Chidambaram's case (supra) is not applicable in the present facts and circumstances of this case because the petitioner is carrying twenty-six criminal case against him which was not a case in the matter of P. Chidambaram. (iii) Learned Additional Solicitor General contends that the petitioner is not a law abiding citizen. In the year 2014 itself, in a judicial order, the High Court had directed the petitioner to surrender but the petitioner did not surrender and kept the investigation lingering f....
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.... such circumstance while considering the application for bail in such matters, the Court will have to deal with the same, being sensitive to the nature of allegation made against the accused. One of the circumstances to consider the gravity of the offence is also the term of sentence that is prescribed for the offence the accused is alleged to have committed. Such consideration with regard to the gravity of offence is a factor which is in addition to the triple test or the tripod test that would be normally applied. In that regard what is also to be kept in perspective is that even if the allegation is one of grave economic offence, it is not a rule that bail should be denied in every case since there is no such bar created in the relevant ....
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....n'ble Supreme Court said that the bail is not to be withheld as a punishment. The main object is to secure the attendance of the accused at the trial. The proviso to Section 45 of the Prevention of Money-Laundering Act, 2002 is applicable in this matter. Considering the entire facts aforesaid, in my view, the petitioner deserves to be enlarged on bail. Hence, the petitioner above named is directed to be released on bail on furnishing bail bond of Rs. 75,000/- (Rupees Seventy-Five Thousand) with two sureties of the like amount each to the satisfaction of learned Court below where the case is pending in connection with Complaint Case No. 09 of 2018 (PMLA) arising out of ECIR No. PTZO - 05/2013 and PTZO - 02/2018 in Special Trial No. 09/201....