JUDGMENT :

Madhuresh Prasad, J.

Heard Mr. S. D. Sanjay learned senior counsel assisted by Mr. Mohit Agrwal for the petitioner. Mr. K. N. Singh learned Additional Solicitor General has made submissions on behalf of the Union of India.

2. The matter was earlier heard on 1st September, 2023 as a tied up matter and adjourned to today for further consideration.

3. The petitioner seeks bail in connection with Special Trial No. (PMLA) 05 of 2021, arising out of ECIR No. PTZO/04/2018, dated 24.05.2018, registered for the offence punishable under Section 4 of the Prevention of Money Laundering Act, 2002 (hereinafter referred to as ‘the PMLA’).

4. Several First Information Reports (for brevity ‘FIR’) were lodged in connection with fraudulent transfers /misappropriation of huge sums of government money under a conspiracy between government officials and employees, Bank officials and employees, office bearers and members of Srijan Mahila Vikash Sahyog Samiti Limited (for brevity ‘SMVSSL’) and other accused persons, popularly known as “Srijan Scam”. The petitioner is made an accused in one such case:

(i) Special Case No. 11 of 2020 arising out of C.B.I. Case No. RC06(A)/2018) for the offences under S