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2018 (2) TMI 239 - HC - Money LaunderingBail application - offence under PMLA - Held that:- The involvement of the Applicant accused with regard to the alleged offence under the PML Act and there may be further scrutiny of the material by the Respondent agency, the fact remains that most of the material has been seized and collected and the severity of the punishment, which has been emphasized by learned Senior Counsel Shri S.V.Raju, clearly suggest that it is punishable up to 7 years, meaning thereby, it is not punishable with life imprisonment or death. The consideration of the present application for bail even in light of the submissions and the prima facie case suggesting the involvement of the Applicant accused for the alleged offence would not dis-entitle the Applicant accused from bail having regard to the broad guidelines regarding grant of bail. However, in order to protect the interest of the Respondent or the public interest, suitable stringent conditions can be imposed particularly when learned Assistant Solicitor General Shri Devang Vyas has voiced an apprehension that even though the Applicant accused is in jail, there is no cooperation by his family members for the investigation and further details. Therefore the present application deserves to be allowed and accordingly stands allowed. The Applicant – JIGNESH KISHOREBHAI BHAJIAWALA is ordered to be released on bail in connection with ECIR/01/STSZO/2016 registered with Directorate of Enforcement, Surat converted into PMLA Case No.5 of 2017 pending before the Hon’ble Designated Special Court under PMLA, 2002 on his executing a bond of ₹ 50,000/- (Rupees Fifty Thousand Only), with one solvent surety of the like amount to the satisfaction of the lower Court
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