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2023 (3) TMI 588 - HC - Money LaunderingSeeking grant of bail - Money Laundering - predicate offences - it is alleged that the present applicant has cheated so many persons and after his resignation from the Company, other persons, who were Directors of the Company, started cheating the people at the behest of the present applicant - rigours of Section 45 of the PMLA. HELD THAT:- There is no complaint of the E.D. that the present applicant did not cooperate in the investigation and after completion of the investigation, the prosecution complaint has been filed on 24.05.2019 and learned trial court has taken cognizance on 23.09.2019. At the time of filing prosecution complaint or taking cognizance, the E.D. has not requested before the learned trial court for taking custody of the applicant, however, the custody of the application has been taken on 01.09.2022 without assigning any reason and reason to believe as to why the custody of the present applicant would be required after four years from filing the ECIR. It has been noted that more than four years' period has passed since the present applicant is in jail and the maximum punishment under the offences of PMLA is seven years; so, in that way, the applicant has already served more than half punishment. Undoubtedly, there are some more cases against the present applicant wherein the FIRs have been registered under various sections of Indian Penal Code wherein trial would go and the outcome of the trial proceedings in all the predicate offences would impact the proceedings of E.D. inasmuch as the Hon'ble Apex Court in re; Vijay Madanlal Choudhary and Others Vs. Union of India and Others, [[2022 (7) TMI 1316 - SUPREME COURT]], has held that if any accused person is discharged or acquitted in the predicate offence, he may not be prosecuted under the PMLA. Rigours of Section 45 of the PMLA - HELD THAT:- The present applicant has served more than half punishment, has not misused the process of law and appeared before the E.D. on the summons and about three years have passed since filing of the charge sheet and there is no likelihood of the trial proceedings to be concluded with expedition, therefore, in view of para-86 of the dictum of Apex Court in re; Satender Kumar Antil Vs. Central Bureau of Investigation & Another, [[2022 (8) TMI 152 - SUPREME COURT]], whereby the Apex Court has observed that more the rigour, quicker the adjudication ought to be. So the rigours of Section 45 of the PMLA are satisfied. Let applicant- Rajesh Kumar Singh be released on bail in the aforesaid complaint case on his furnishing a personal bond and two sureties each in the like amount to the satisfaction of the court concerned with the conditions imposed - application allowed.
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