JUDGMENT :

1. This is an application for bail by the applicant who is accused No.1 in ECIR/MBZO-I/57/2022 (hereafter ‘ECIR’ for short) for which Special Case No. 634 of 2023 is filed before the Special Court designated under the Prevention of Money-Laundering Act, 2002 (hereafter ‘PMLA’ for short) against the applicant and other accused for offence under Section 3 punishable under Section 4 of the PMLA.

The facts relevant to a decision of this application are thus:

2. On 20/06/2011, one Shri Vibhas Rajan Sathe purchased Gat No. 446 at Dapoli, Ratnagiri. Mr. Sathe made an application to the Sub-Divisional Officer on 21/07/2017 for conversion of the said land to non-agricultural (‘NA’ for short) use and for building permission. The NA permission and building permission was granted on 12/09/2017. Shri Sathe sold the said land to Shri Anil Parab on 19/06/2019 under a duly registered sale deed for the consideration paid by cheque/bank transfer. It is alleged that to conceal the identity of Shri Anil Parab, the sale deed was executed in 2019 though the transaction took place in 2017. Al