Criminal Procedure Code, 1973
Section 439—Bail—Offence of money laundering—Applicant is in judicial custody for last eight months—Admittedly the petitioner was a downstream investor of funds hence his submission he did not knowingly became a party to money laundering cannot be brushed aside lightly—What weigh the statements under Section 50 of the PML Act would carry at the end of trial cannot be tested at the stage of bail, more importantly when the intermediary companies were never made an accused in the present ECIR—Ultimate effect of their non-inclusion would be seen at the conclusion of trial—Further considering order wherein all remaining co-accused in this ECIR were admitted to bail, the High court has every reason to say the petitioner has passed the test of broad probabilities—Admittedly twin conditions of Section 45 of the PML Act does not put an absolute restraint on grant of bail or require a positive finding qua guilt—Considering period of custody which is about 8 months and broad probabilities, the applicant is admitted to bail—Application allowed. [Prevention of Money Laundering Act, 2002, Sections 45 & 50]
[Para 34 & 35]