Case Note & Summary
The Supreme Court allowed a criminal appeal against the High Court's order rejecting regular bail to the appellant in a money laundering case under the Prevention of Money Laundering Act, 2002 (PMLA) -- The appellant, a former promoter of Amtek Auto Ltd., was arrested on 09.07.2024 and had been in custody for about 16 months and 20 days -- The Court found that the investigation against him was complete, and trial had not commenced due to delays attributable to the prosecution -- Citing the right to speedy trial under Article 21 of the Constitution, the Court held that prolonged incarceration without trial violated his fundamental rights -- The Court granted bail with conditions, emphasizing that economic offences do not warrant automatic bail denial -- The judgment references multiple precedents on bail in PMLA cases and the importance of liberty in criminal jurisprudence
Headnote
Criminal Law-- Bharatiya Nagarik Suraksha Sanhita, 2023-- Section 483-- Prevention of Money Laundering Act, 2002(PMLA)-- Section 45-- Indian Penal Code, 1860- Sections 120B, 420, 406 and 468-- Prevention of Corruption Act, 1988- Sections 13(2) and 13(1)(d)-- Regular bail-- Appellant/accused was a former promoter and non executive director of company-- Allegation of fraud of Rs 385.35 crores & Rs 289 crores-- Allegation that appellant was beneficiary -- Application for bail filed under PMLA Act-- Rejection of application by high court-- Appeal filed before Supreme court for regular bail-- Siphoning of public funds-- 208 prosecution witnesses cited-- Appellant is aged 64 years old-- No likelihood of commencement of trial in near future-- Delay in trial of approximately eight months is attributable to the respondents-- Economic offences cannot be classified as separate class on its own for determining of grant of bail-- Gravity of offence required to be considered while dealing with prayer for regular bail-- Terms of sentence-- Aspect of right of speedy trial required to be considered in favour accused-- Prolonged incarceration period- Maximum sentence is 7 years-- appellant is in custody since last 16 months and 20 days- Long list of witnesses-- Bail granted-- Appeal allowed Para-- 6, 7, 9, 10, 12, 15, 16, 17, 18
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Issue of Consideration: Whether the appellant is entitled to regular bail under Section 45 of the Prevention of Money Laundering Act, 2002 (PMLA) read with Section 483 of the Bharatiya Nagarik Suraksha Sanhita, 2023 (BNSS) considering prolonged incarceration and delay in trial
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Final Decision
The Supreme Court allowed the appeal and granted bail to the appellant subject to conditions including execution of a personal bond of Rs. 5 lakhs with two sureties, surrender of passport, and no interference with witnesses or evidence
