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2014 (11) TMI 1146 - BOMBAY HIGH COURTBail application - Summons received under the Prevention of Money-Laundering Act, 2002 - Held that:-'Reasonable' would mean fair and sensible. The applicant is facing the principal charges under Indian Penal Code and Prevention of Corruption Act, 1988. The offence under PMLA 2002 is an `ancillary' offence. Proviso (ii) to Section 45 of the Prevention of Money-Laundering Act, 2002 does not denude the court of the discretionary powers under Section 439 of Cr.P.C. The said proviso would contemplate abundant caution while granting bail in economic offences. 'Reason to believe' is an expression of state of mind which has to be drawn by `inference' and the Court cannot record such a finding at the pre-trial stage. It would cause prejudice to prosecution or defence . Hence, this Court is only considering the issue of `further incarceration' pending trial which cannot be completed in near future. Taking into consideration that the applicant has been in custody for almost three months and also co-operated with the investigating agency for the past five years, the inordinate delay in filing the formal complaint is not explained by the prosecution. Hence, the applicant would be entitled to be enlarged on bail. It is made clear that the observations made hereinabove are prima facie in nature. That the co-accused shall not claim parity with the present applicant and their application needs to be decided on its own merits. The Designated Court shall not be influenced by the observations made hereinabove as they pertain to consideration of bail under Section 439 of Cr.P.C. The application is allowed. The applicant be enlarged on bail on furnishing P.R. Bond in the sum of ₹ 50,000/- with one or two solvent sureties in the like amount.
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