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2018 (5) TMI 1799 - HC - Money LaunderingOffences punishable under Sections 3 and 4 of PMLA - bail application - Held that:- The petitioner is in custody for the last about seven months and after filing of complaint no further steps have been taken to produce any evidence. Submission of respondent that the matter is still under investigation shows that it will take considerably long time for the Enforcement Director to complete its investigation. The case is based on documentary evidence. So far as submission of learned counsel for the respondent that the petitioner after being released may not appear in Court and it will be difficult to procure his presence, is no reason to decline bail to petitioner as he is resident of Ludhiana. Without expressing any opinion on merits of the case and that conclusion of trial will take considerably long time, the present petition is allowed. Petitioner-Raman Kumar Garg is ordered to be released on regular bail on furnishing bail bond and surety bond to the satisfaction of concerned trial Court/Chief Judicial Magistrate/Duty Magistrate, subject to following terms:- (b) In the event of his absence on any date of hearing, the benefit of bail allowed to the petitioner shall stand withdrawn.
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