P.N. Prakash, J.

1. Madhan, the petitioner herein, was arrested by the respondent-Enforcement Directorate on 23.05.2017 for offences u/s. 3 and 4 of the Prevention of Money-Laundering Act, 2002 (for brevity "the PMLA"). After completing the investigation, the Enforcement Directorate has filed a complaint in C.C. No. 15 of 2017 before the Principal Sessions Court, Chennai (Special Court under the Prevention of Money Laundering Act) for offences under Section 3 read with Section 4 and 8(5) of the PMLA. Madhan continues to be in judicial custody and hence, he seeks bail. Since Section 45(1) of the PMLA places additional limitations on this Court for grant of bail under Section 439, Cr.P.C, this Court is constrained to narrate the facts in detail.

2. In the opinion of this Court, the facts obtaining in this case would provide a fertile plot for a crime thriller movie. Some of the incontrovertible notorious facts are as under:

3.1 Pachamuthu @ Pari Vendhar is the Founder-Chancellor of SRM University and also the Founder-President of India Jananayaka Katchi (IJK) party, a political outfit and his family runs a private TV channel by name Vendhar TV. SRM University is a deemed university and offers medical, engineering, law, arts and science courses. The said University runs colleges in Chennai, Trichy, Sikkim and also in various parts of Andhra Pradesh. Like any other private institution, SRM University also has seats under Management quota for MBBS and MD courses which are in great demand and naturally, has a price tag.

3.2 It was a smooth sailing for Pachamuthu till the Supreme Court mandated that admission to MBBS and MD courses can be made only for those qualifying in the NEET examination. On 22.05.2016, the State authorities confirmed that admission under the Management quota to MBBS and MD courses in all the private institutions, including deemed universities, can be only via NEET and this proved to be a game changer.

3.3 On 28.05.2016, Madhan, who is concededly a prominent member of the IJK party and Proprietor of Vendhar Movies, a film production house, left a note addressed to Pachamuthu and his friends and also his family members, purportedly to be a suicide note and disappeared. The said note was circulated in Whats App and it became viral. The note runs to around 5 pages in which Madhan has stated that he has handed over the money collected by him from the prospective students to Pachamuthu and has requested him to provide P.G. and U.G. admissions to those students from whom he got money as per the list given by him or alternatively, to return the money to those students in the event of NEET becoming mandatory.

3.4 On 29.05.2015, Madhan's mother lodged a complaint with the Inspector of Police, Virugambakkam Police Station, requesting the police to trace her son. Madhan's disappearance and the suicide note left by him created panic amongst those who had parted with their money for getting admission and so, one Dr. K. Jayachandran, MD, DCH, gave a complaint to the Commissioner of Police, Madras City, on 01.06.2016 and the said complaint was forwarded to the Central Crime Branch for investigation.

3.5 In the said complaint, Dr. K. Jayachandran has stated as follows:

"Through my friends and well wishers I heard that one Mr. Mathan, who has been the Head of the company Vendhar Movies has been closely involved in getting admissions for students aspiring MBBS course in SRM Medical College, Kattankulathur for the past 8 to 10 years. Due to his close association with the Management of SRM Medical College, Kattankulathur. He (Mr. Mathan) is also involved in getting admission for Post graduate courses in Medicine like MS and MD in the same SRM Medical College with the full knowledge of the college management.

For the purpose of securing a stable future for my son K.J. Dakshin as advised by my friends and well-wishers, I approach