2026 (8) TMI 858

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....nder Naik (SC For Central Govt) ORDER : This Criminal Petition is filed praying the Court to enlarge the petitioner on bail who is arrayed as accused in ECIR/HYZO/42/2022 on the file of the Directorate of Enforcement, Hyderabad, registered for the offences punishable under Sections 3 and 4 of PML Act, 2002. 2. The Brief facts of the case are that the petitioner/accused, acting as Managing....

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.... similar assurances of delivery of flats/villas which were not fulfilled. 3. Heard Sri V Pattabhi, learned Senior Counsel appearing for Sri V. Surender Rao, learned counsel for petitioner, and Sri Narender Naik, learned Standing Counsel for respondent. 4. Learned senior counsel for the petitioner submitted that the petitioner has been in custody since 29.09.2024, that the investigation is co....

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.... It was further pointed out that even while in custody, a cell-phone was seized from the petitioner in jail, demonstrating continued involvement and lack of bona fides. The respondent submitted that the rigors of Section 45 of the PMLA apply and the petitioner does not satisfy the twin conditions for bail. In support of the said contentions, he placed reliance on the judgments rendered in the case....

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....oner are severe in nature and there are number of victims in the hands of petitioner, and his son who is also accused in the present case is still absconding. According to respondent, they have to trace the proceeds of crime which is more than 800 crores. Therefore, mere long incarceration cannot be a ground to grant bail to the petitioner who is prime accused in the crime. 7. That apart, the p....