Bail under Section 439 CrPC denied in PMLA probe as Sections 24 and 45 presumptions, Sections 3 and 4 upheld

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....The HC dismissed the petitioner's application for bail under Section 439 CrPC in a PMLA prosecution, finding that the petitioner failed to rebut the prima facie case and did not satisfy the statutory twin conditions of Section 45 PMLA; Section 24's presumption that proceeds of crime are involved remained unrebutted. The court observed investigative material-including bank analyses, audit reports, statements under Section 50 PMLA and seizure under Section 17-prima facie established conspiracy and offences under Sections 3 and 4 PMLA. Judicial custody and delay were held insufficient to outweigh the gravity and complexity of the alleged money-laundering offence; the bail plea was dismissed.....