2024 (10) TMI 1675

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....the predicate offences. He had unsuccessfully approached this Court in January, 2024. Subsequent thereto, the principal accused, Manoranjan Roy has been enlarged on bail after suffering detention for 10 months in the present case. Prosecution proposes to examine a large number of witnesses and rely on a number of documents. There is no possibility of trial concluding in the near future. Accordingly, he prays for bail. 2. Learned Counsel for Enforcement Directorate opposes the bail prayer. He submits during enquiry petitioner took false plea that he had received monies from 'PINCON Group of Companies' against bona fide business activity i.e. telecasting programmes / advertisements on his news channel. However, analysis of the ledgers, invoi....

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....tioner was turned down in January, 2024. Subsequently, another complaint has been filed. But there has not been any accretion of proceeds of crime in the hands of the petitioner. In the meantime the principal accused Manoranjan Roy (who suffered detention for 10 months in the present case) has been enlarged on bail. 4. Learned Counsel for the Enforcement Directorate contends there were prima facie material to show petitioner is guilty of offences under Section 3 of the Prevention of Money Laundering Act (for short 'PMLA') and in view of restrictions under Section 45 of PMLA Act bail may not be granted. 5. We are conscious of the strict restrictions to grant of bail on merits in PMLA cases. However, the said restrictions do not operate whe....

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.... in PMLA case when he was in detention for just over a year. 7. In the present case, petitioner is in custody for 15 months and a major part of the transaction by and between him and the 'PINCON Group of Companies' have not been accounted for. Whether failure to account for the remainder is due to inadvertent errors in maintaining accounts and/or would constitute offences of money laundering may be assessed during trial. Keeping in mind the profile of the case and the period of detention suffered by the petitioner a reasonable guesstimation may be made that the trial would not conclude even if the petitioner is kept in detention for some months more to attain the benchmark under Section 479 of BNSS. It is also relevant to note that the pri....