2023 (3) TMI 542 - HC - PMLA

Seeking grant of bail - disproportionate assets of the present applicant which he, allegedly, could not explain - Scheduled/predicate offence - HELD THAT:- As a matter of fact, the present applicant is not in judicial custody since November, 2019. He remained in judicial custody w.e.f. 27.02.2017 in another matter of E.D. and w.e.f. 04.11.2017 in the present case of E.D. The maximum punishment prescribed under the offence of PMLA is seven years. At the time of hearing before the Apex Court seeking bail, the arguments relating to the twin conditions as prescribed under Section 45 of the PMLA must have been placed and the Apex Court has granted interim bail to the applicant. If the proceedings of predicate offence have been stayed, as shown by the learned counsel for the applicant, however, the proceedings under PMLA may go on but the final outcome of the proceedings relating to the offence of PMLA shall dependent upon the final outcome of the proceedings of predicate offence. Notably, proper opportunity has been given to the learned counsel for the E.D. and he has filed a detailed counter affidavit. Not only the above, neither learned counsel for the Union of India nor counsel for the E.D. has shown any order to show that the stay order staying the proceedings of the predicate offence has been vacated, rather those proceedings of the predicate offence have been stayed since 07.12.2018 i.e. more than four years and three months, so considering the facts and circumstances of the issue in its entirety, more particularly the fact that the present applicant is on interim bail since 15.11.2019 in this case granted by the Apex Court and there is no adverse report of misusing the liberty or flouting any condition of bail by the present applicant, besides, there was neither a flight risk, nor would he tamper with the evidence nor is influencing the trial proceedings, it is clear that the twin conditions of Section 45 of the PMLA are satisfied in the present case.

It is not found proper to send the applicant to the judicial custody again - bail application allowed subject to conditions imposed.