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2016 (3) TMI 1283 - CALCUTTA HIGH COURT (APPELLETE SIDE)Bail Application - Section 3 read with Section 17(1)(2) of Prevention of Money Laundering Act, 2002 - time limitation to grant Bail - Held that: - the words used in the non obstante clause are of restrictive nature and clearly indicative of its scope of operation. The power to grant bail under Section 439 is not restricted by the limitations engrafted under Section 45 of the Act. In this perspective, if one examines the materials collected in the course of investigation as reflected in the subsequent complaint, I find that there are sufficient materials on record, which show that the petitioner as a Senior Field Officer had played a role in monitoring the activities of the agents of the company in dealing with the proceeds of crime which had accrued in the credit of the company pursuant to the commission of the scheduled offence for which prosecution has been launched against the said company. From the uncontroverted accusations it appears that the petitioner as a senior field officer knowingly monitored the activities of the agents of the accused company to secret the proceeds of crime and assiduously wanted to create an opinion that such assets constituted 'untainted money' in the hands of the accused company or its agents - It is not possible for a reasonable man of ordinary prudence to come to a conclusion at this stage that the petitioner is not guilty of the aforesaid offence. In the absence of such a conclusion, the limitations of Section 45 applies with full force restricting my discretion to grant bail under Section 439 of the Code of Criminal Procedure. It is true that the petitioner is in custody for 268 days, but in view of the materials on record prima facie connecting him with the commission of offence punishable under Section 3 of the P.M.L. Act read with Section 70(1) of the said Act and bearing in mind the restrictions engrafting in Section 45 thereof, I am unable to accede to the prayer for bail of the petitioner at this stage - Bail application rejected.
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