JUDGMENT

(Prayer: Criminal Original Petition is filed under Section 439 Cr.P.C, seeking to enlarge the petitioner on bail in connection with ECIR/CEZOI/ 14/2017 on the file of the respondent.)

1. The petitioner, who was arrested and remanded to judicial custody on 13.06.2022 for the alleged offences punishable under Sections 3 and 4 of the Prevention of Money Laundering Act, 2002 (hereinafter referred to as “the PML Act”) in F.No.ECIR/CEZO-I/14/2017 pending on the file of the respondent, seeks bail.

2. The FIR has been registered in F.No.ECIR/CEZO-I/14/2017 with the allegation that during the year 2015, nineteen firms fraudulently opened current accounts in Punjab National Bank, Mint Street, Chennai, and the unknown public servants of the bank had entered into criminal conspiracy with 19 account holders and abused their official position and in furtherance to the criminal conspiracy, they were sending foreign exchange to Hong Kong without genuine business transactions. The modus operandi was that the remittances from various banks to their accounts by way of RTGSs and presented to make request, issued by foreign suppliers for 100% advance remittances. Each remittance amount was kept i