IMPORTANT POINT
Bail petition – Economic offences having deep-rooted conspiracies and involving huge loss of public funds need to be viewed seriously.

ORDER (CAV)

Heard Mr. Ramakant Sharma, learned senior counsel for the petitioner and Dr. Krishna Nandan Singh, Assistant Solicitor General of India for Directorate of Enforcement, Patna, Bihar.

2. The petitioner seeks bail in connection with Special (Trial) PMLA Case No.7 of 2022 arising out of ECIR No.PTZO/05/2014 in which cognizance has been taken for the offences punishable under Sections 3, 4, 44 and 45 of the Prevention of Money Laundering Act, 2002 (for short ‘the Act’).

3. Brief facts of the prosecution case as it springs from the complaint filed under Sections 44 and 45 of the Act (as amended from time to time) that petitioner appears accused in eight criminal cases, which are:- (i) Gopalpur P.S. Case No.95 of 2007 registered under Sections 302 read with 34 of the Indian Penal Code (for short ‘IPC’) and section 27 of the Arms Act, (ii) Ramkrishna Nagar P.S. Case No.68 of 2012 registered under Sections 147, 148, 149, 385, 354, 323, 379, 307, 504, 506 of the IPC, (iii) Ramkrishna Nagar P.S. Case No.10 of 2012 registered under Sections 341, 323, 379, 504, 506 read with 34 of the IPC (iv) Ramkrishna Nagar P.S. Case No.24 of 2012 registered for the offences under Sections 341, 323, 379, 427, 504 read with 34 of the IPC, (v) Ramkrishna Nagar P.S. Case No.39 of 2012 registered for the offences under Sections 147, 148, 149, 341, 342 and 323 of the IPC, (vi) Ramkrishna Nagar P.S. Case No.127 of 2012 registered for the offences under Sections341, 323, 353, 427, 504 read with 34 of IPC and Sections 31, 62, 63 of the Food Security Act, 2006, (vii) Ramkrishna Nagar P.S. Case No.64 of 2013 registered under Sections 448, 436 read with 34 of IPC and (viii) Ramkrishna Nagar P.S. Case No.115 of 2011 registered under Sections 341, 323, 504, 506, 188 read with 34 of IPC. An inquiry was initiated under the Act, where out of 8 FIRs as mentioned above, the petitioner was chargesheeted in five cases after investigation. It is alleged that accused persons including the petitioner have acquired assets by commission of schedule offences and have invested the proceeds of crime in acquiring huge immovable properties and also unaccounted money deposited with banks. It is alleged thereof that the proceeds of crime were utilized for acquisition of movable/immovable properties in name of petitioner and also in the name of his family members, where the value of immovable properties was more than Rs. 3,99,33,000 (Rupees Three crore Ninety-nine Lakhs Thirty-three Thousand only). The allegation further suggests that six bank accounts were found in name of petitioner and his family members along with two vehicles and LIC policies. The total value of movable & immovable properties comes to approximately about Rs. 4,04,29,415/- (Rupees Four Crores Four Lakhs Twenty-nine Thousand Four Hundred Fifteen only), which has been provisionally attached by the Authorized Officer vide order dated 31.03.2022. It is further alleged thereof that the properties worth Rs. 1,01,83,869/- (Rupees One Crore One Lakh Eightythree Thousand Eight Hundred Sixty-nine only) as concerned with this petitioner have been attached but, the properties of Rs.94,03,280/- (Rupees Ninety-four Lakhs Three Thousand Two Hundred Eighty only) is liable for confiscation. As far bank account is concerned, it is alleged that between 18.01.2011 to 23.03.2018 huge credits to the tune of Rs.13,80,000/- (Rupees Thirteen Lakh Eighty Thousand only) have been observed to be deposited which allegedly appears out of proceeds of crimes as stated above.

4. It is submitted by Mr. Ramakant Sharma, learned senior counsel appearing on behalf of the petitioner that petitioner is an innocent and law abiding person and has committed no offence at all rather he has been falsely implicated in the present case out of ulterior motive. It is submitted that petitioner is on bail in all eight cases out of which, four cases i.e. FIR No.95 of 2007 (registered under Sections 302 of IPC and 27 of the Arms Act), FIR No.68 of 201