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2017 (9) TMI 1358 - HC - Money LaunderingApplication for bail - offence under PMLA act - Held that:- Rigors of Section 21(4) of MCOC Act as under consideration which is pari materia with Section 45(1) of PML Act, and considering the facts of the present case and the observations made hereinabove grounds for grant of bail are made out. The reasonable satisfaction contemplated under Section 45(1) has to be construed on the basis of aforesaid principles. The observations herein are restricted to an application under Section 439 of Cr.P.C. and the same shall not be taken into consideration for purpose of quashing the proceedings, discharge application or at the time of trial. (i) The applicant is directed to be released on the bail in connection with ECIR/MBZO11/05/2016 registered by Directorate of Enforcement, Mumbai on furnishing P. R. Bond in the sum of ₹ 1 lakh (Rupees One Lakh only.) with one or more sureties in the like amount; (ii) The applicant is directed to report to Enforcement Directorate, Mumbai once in a month on the first Saturday of the month between 11.00 am to 1.00 pm till further orders; (iii) The applicant shall not leave country without the permission of the Court; (iv) The applicant is permitted to furnish cash security in the sum of ₹ 1 lakh for a period of four weeks in lieu of sureties;
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