JUDGMENT :

1. Heard the learned advocates for the respective parties through video conferencing.

FACTS:

2. The present application is filed under Section 439 of the Code of Criminal Procedure, 1973 (Cr.P.C.) read with Sections 44 and 45 of the Prevention of Money Laundering Act, 2002 (for short “the PMLA Act”) seeking regular bail in connection with the arrest order dated ECIR/01/STSZO/2020, passed by the Enforcement Directorate, whereby the applicant came to be arrested on 26.11.2020 under Section 19(1) of the PMLA Act.

3. The case of the prosecution as mentioned in the arrest order dated 26.11.2020 is that, the applicant and one Shri Sitaram Adukiya are the Directors of M/s.Sanket Media Private Limited, which is engaged in printing and publishing a newspaper “Satyam Times,” in Gujarati and English languages. The arrest order reveals that, the applicant and Shri Sitaram Adukiya have falsely declared very high numbers of circulation of these newspapers i.e. 23,500 and 6,000-6,300 copies daily for the Gujarati and English editions respectively, whereas actual circulation was much less i.e. only 300-600 and 0-290 respectively. It is stated that false figures of higher circulation were us