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2022 (1) TMI 159 - ROUSE AVENUE COURT COMPLEX, NEW DELHIMoney Laundering - proceeds of crime - Seeking default or Statutory bail - fraud and misappropriation of money - filing of the complaint by ED and also reserving the right to carry on further investigation and to file subsequent complaint as empowered u/s 44 Explanation (ii) of PML Act - incomplete investigation or filing of the complaint would be considered to be complete investigation for offence of money laundering - HELD THAT:- No doubt the investigation in the offence of money laundering involves tracing of different evidence of layering, padding, fabrication of documents etc. and this process requires unearthing of evidence and documents, analyzing the same and to ascertain the laundering of the proceeds of crime but once the accused has been arrested the onus lies on the Directorate to complete the investigation within the time frame. If no time frame is fixed and Explanation (ii) added to Section 44 is taken on the face of it, the primary question would arise that even if Directorate can file supplement complaint but what would be the maximum time line within which investigation should be completed if accused is judicial custody and ED takes a plea of non-application of section 167(2) of Cr.P.C. - the provision of section 167(2) of Cr.P.C. probably has been meant for a situation like this. Therefore Explanation (ii) attached to section 44 of PMLA cannot be taken to defeat the very purpose of section 167(2) Cr.P.C. In the facts of the present case it is mentioned that further investigation in the matter is still in progress and remaining proceeds of crime amount is being traced. Para 9.2 of the complaint also mentions that complainant craves leave of the court to file further complaints to initiate necessary action as contemplated under PMLA with regard to other accused persons and also against accused Satender Singh Madhok and others, on the outcome of the investigation which is still in progress. No specific provision of PMLA has been pointed out to show non-application of section 167(2) Cr.P.C. laying down limits of 60/90 days as per the punishment prescribed for offences, for completing the investigation. Even if the investigation of money laundering involves tedious process of collecting evidence and analyzing the same but if the accused has been kept in judicial custody he to my mind has a right that either investigation qua should complete or be released on bail. In this case ED is not denying that its investigation qua accused/ applicants is also going on. Though ED is empowered to carry further investigation but accused persons to my mind are certainly entitled for bail in this case u/s 167(2) Cr.P.C. as by own assertion of ED, investigation has not been completed despite filing of the complaint on 30.10.2021. Therefore, accused persons/applicants Sandeep Singh Madhok and Satender Singh Madhok are ordered to be admitted on bail upon furnishing of bail bond for sum of ₹ 1,00,000/- with one surety of equal amount to the satisfaction of ld. CMM/ACMM on duty as well as subject to conditions imposed. Bail application allowed.
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