Chakradhari Sharan Singh, J. – The Supreme Court in its decision, rendered in case of Nikesh Tarachand Shah vs. Union of India and Another, reported in (2018) 11 SCC 1, on 23rd November, 2017, has declared Clause (ii) of sub-Section (1) of Section 45 of the Prevention of Money Laundering Act, 2002 (hereinafter referred to as ‘the Act’), ultra vires Articles 14 and 21 of the Constitution of India.

2. Section 45(1) of the Act, as the same stood, when it was declared ultra vires, read thus : –

“45. Offences to be cognizable and non-bailable. – (1) Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), –

(a) every offence punishable under this Act shall be cognizable;

(b) no person accused of an offence punishable for a term of imprisonment of more than three years under Part A of the Schedule shall be released on bail or on his own bond unless-

(i) the Public Prosecutor has been given an opportunity to oppose the application for such release; and

(ii) where the Public Prosecutor opposes the application, the court is satisfied that there are reasonable grounds for believing that he is not guilty of such offence and that he is not likely to commit any offenc