JUDGMENT :

A.M. Khanwilkar, J.

1. By these appeals the order of the High Court of Delhi at New Delhi dated 5th May, 2017, rejecting the Bail Application No.119 of 2017 and Criminal M.B. No.121 of 2017 has been assailed. The appellant was arrested on 28th December, 2016 in connection with ECIR/18/DZII/ 2016/AD(RV) registered under Sections 3 & 4 of the Prevention of Money Laundering Act, 2002 (hereinafter referred to as “the Act of 2002”). The said ECIR was registered on 26th December, 2016 as a sequel to FIR No.205/2016 dated 25th December, 2016 in relation to the offences punishable under Sections 420, 406, 409, 468, 471, 188 and 120B of the Indian Penal Code, 1860 (“IPC” for short). The said FIR was registered by the Crime Branch of Delhi Police, New Delhi. The ECIR, however, has been registered at the instance of Assistant Director (PMLA), Directorate of Enforcement, empowered to investigate the offences punishable under the Act of 2002.

2. The appellant first approached the Additional Sessions Judge 02, South East Saket Court, New Delhi for releasing him on bail by way of an applic