2021 (3) TMI 894 - JAMMU AND KASHMIR HIGH COURT - PMLA

Head Note / Extract:
Grant of Anticipatory Bail - accumulation of huge wealth disproportionate to known sources of income - proceeds of crime - HELD THAT:- Though the respondents have made grievance that they have not been able to get desired cooperation from the petitioners, yet it is on record that they have attended the investigation as and when required by respondent No.2. The grievance of respondent No.2, is however, that though the petitioners are complying with the directions and attending the investigation, yet they are not disclosing the information with regard to various documents and the properties. Be that as it may, ECIR in the case was registered on 21.02.2020 and it was with respect to the ‘proceeds of crime’ unearthed by ACB after thorough investigation. More than one year has passed and the investigation in the offences under PMLA is going on. Arrest of accused may be required for effective investigation of crime, but the same cannot be a substitute of post trial punishment. After all, an accused is presumed to be innocent until proven guilty. The golden principle is part of criminal jurisprudence of all civilized nations including India. Stringent conditions of bail under Section 45 of the Act have already been declared ultra vires. The instant petition is allowed and the petitioners are granted pre-arrest bail subject to the conditions: imposed.