Bail Granted Due to Lack of Predicate Offense and Investigation Under PMLA, Aligning with Supreme Court's Stance.

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....Seeking grant of regular bail - the High court noted the absence of a predicate offense or ongoing investigation related to a scheduled offense, aligning with the Supreme Court's stance that prosecution under PMLA cannot proceed on assumption without a registered or pending scheduled offense. Meeting the twin conditions of Section 45(1)(ii) of the PMLA, the court was satisfied there were reasonable grounds to believe the petitioner was not guilty of the offense - Bail granted.....