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2022 (9) TMI 132 - HC - Money LaunderingSeeking grant of Bail - money laundering - cheating large number of investors of Jharkhand by inducing them to purchase plots of land - siphoning off of funds - twin conditions under section 45 of PMLA attracted or not - HELD THAT:- This Court is of the considered view that the provisions of Section 45 of the Act, 2002 prior to judgment of Ho’ble Apex Court in the case of NIKESH TARACHAND SHAH VERSUS UNION OF INDIA AND ANR. [2017 (11) TMI 1336 - SUPREME COURT] had been declared unconstitutional; but the defects in provisions of the said Act was cured by Parliament by way of Amendment Act 13 of 2018 and consequently, the twin conditions of Section 45 while disposing of the bail application under the Act, 2002 stood revived. The twin conditions under Section 45 (1) for the offences classified thereunder a Part-A of the Schedule was held arbitrary and discriminatory and invalid in the case of Nikesh Tarachand Shah. Subsequently, the Section 45 of the Act, 2002 has been amended by Amendment Act, 13 of 2008, whereby the words “imprisonment for a terms of imprisonment of more than three years under Part A of the schedule” has been substituted with “accused of an offence under this Act.” The Hon’ble Apex Court in THE ASST. DIRECTOR ENFORCEMENT DIRECTORATE VERSUS DR. V.C. MOHAN [2022 (1) TMI 511 - SUPREME COURT] held once the prayer for bail is made for the offence under PMLA 2002, the rigors & principle underlying Section of 45 get triggered on. There are reasonable grounds for believing that applicant is guilty of the offences of money laundering and he is likely to commit any offence, if enlarged on bail - Bail application dismissed.
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