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2019 (8) TMI 1137 - HC - Money LaunderingOffence under PMLA - pre-arrest bail - HELD THAT:- Severity of the punishment alone cannot be the criteria to determine as to whether bail has to be granted or not. Gravity of the offence is a relevant criteria which has to be considered while granting or refusing the bail. During the course of hearing, reliance was placed by learned ASG upon Section 265-A of Cr.P.C. to urge that in an offence punishable with term up to seven years, ‘plea bargaining’ can be entertained, is misplaced as proviso to Sub-Section (1) (b) of Section 265-A of Cr.P.C. contains a rider that ‘plea bargaining’ is not available where the offence committed affects socio and economic conditions of the country. A bare perusal of petitioner’s statement recorded u/s 50 of the PMLA reveals that he is evasive in his replies. However, gravity of the offence committed can be gauged from the contents of the aforesaid statement recorded under Section 50 of PMLA. In any case, it cannot be prima facie said that petitioner’s statement recorded under Section 50 PMLA does not incriminate him. This Court is of the prima facie opinion that custodial interrogation of petitioner is required for an effective investigation. Mere attachment of petitioner’s property in Income Tax proceedings would not justify grant of pre-arrest bail to petitioner, who is not only evasive in his replies but is trying to influence the witnesses. It is so evident from the statement of witnesses recorded by respondent, which has been provided to this Court in sealed cover. Upon considering this case in its entirety, this Court finds that grant of pre-arrest bail to petitioner would stall effective investigation in this case.
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