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2016 (8) TMI 1539 - HC - Money LaunderingConspiracy - private persons, who were contractors and builders of a Housing Project - fraudulently and dishonestly caused wrongful loss to the Dena Bank - HELD THAT:- It is clearly envisaged under section 45 of the PMLA that no person accused of an offence punishable for a term of imprisonment of more than three years under Part A of the Schedule shall be released on bail or on his own bond unless Public Prosecutor has been given an opportunity to oppose the application for such release and where the Public Prosecutor opposes the application, the Court is satisfied that there are reasonable grounds for believing that he is not guilty of such offence and that he is not likely to commit any offence while on bail. Keeping in view the facts and circumstances of the case, applicant should not to be enlarged on bail in the interest of justice, therefore, the bail application is rejected. Application dismissed.
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