Anticipatory Bail Granted in Foreign Fund Misuse Case Under PMLA 2002 with Strict Conditions

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Full Text of the Document

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....The HC granted anticipatory bail to the applicant facing allegations of misuse and siphoning of foreign funds and RBI rule violations under the Prevention of Money Laundering Act, 2002. Noting the investigation remains incomplete since registration in 2020 and no charge-sheet filed, the court found no risk of evidence tampering or witness influence given the documentary nature of evidence and the applicant's reputable standing and age. Bail is conditional upon the applicant furnishing a personal bond of Rs. 25,000 with one surety, cooperating with investigations, maintaining active contact availability, refraining from contacting prosecution witnesses, and avoiding any actions prejudicial to the trial. The investigative authorities are directed to admit the applicant to bail upon arrest subject to these conditions.....