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2024 (2) TMI 89 - HC - Money LaunderingSeeking grant of regular bail - bail sought on medical grounds - Money Laundering - proceeds of crime - acquisition of three immovable properties by the petitioner - HELD THAT:- This Court is not persuaded to consider the prayer for bail on the Medical grounds for two reasons: Firstly, the learned Senior Counsel for the Petitioner did not press this point at the time of arguments though the same has been averred in some detail in the application and briefly in the written submissions filed by the petitioner; and secondly, the PMLA does not provide for Bail, as a matter of right, solely on health grounds. As such, the prayer for Bail on medical grounds is not being considered. In absence of any cogent material that the petitioner despite knowledge that a forged sale deed is involved in the claim supporting the title of the property situated at Chesire Home Road had purchased the same as a part of a larger conspiracy to launder proceeds of crime and that the petitioner had no role in the creation of the false document, this Court is satisfied that there are reasons to believe that the petitioner is not guilty of an offence punishable under the PMLA. It needs to be iterated that materials on record do not establish, even prima facie, that the petitioner had the intention to commit an offence punishable under the PMLA. Likewise in view of the fact that with respect to lands situated at Mouza Pugru and Siram no scheduled offence has been reportedly committed and the criminal law has not been set in motion, in view of the judgment of the Supreme Court of India in Vijay Madanlal Choudhary [2022 (7) TMI 1316 - SUPREME COURT] no offence punishable under section 4 PMLA can be said to have to committed by the petitioner. Viewed thus, it can be held without any hesitance that the allegations qua the land situated at Pugru and Siram prima facie do not make out an offence of money laundering and thus this Court is satisfied that there are reasons to believe that the petitioner is not guilty of an offence punishable under the PMLA. The petitioner is in custody from 31.07.2023. The trial is yet to commence. There are 34 witnesses and more than 6000 of documentary evidence. The scheduled offence in respect of Chesire Home Road property is still at the stage of investigation; whereas in respect of the other two properties no FIR / Complaint alleging commission of schedule offence has been registered till date. Prolonged detention will not serve any purpose. No material has been brought to the attention of this Court that the petitioner will hamper the trial in any manner and why his custody is important for the disposal of the trial. Another aspect which cannot be lost sight of is that the prosecution pertains to sale and purchase of a piece of land measuring one acre and the accusations do not pertain to wrong aimed to harm the public at large or defraud the government exchequer. The petitioner is directed to be released on bail subject to conditions imposed - bail application allowed.
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