The court's decision highlighted the lack of objective satisfaction about the petitioner's guilt, the divergent views expressed by the High Courts and the Supreme Court, and the personal liberty of the petitioner.

JUDGMENT :

Sureshwar Thakur, J.

1. Through the instant petition, as cast under Section 439 Cr.P.C., the petitioner seeks relief of his being released from judicial custody. The petitioner is in judicial custody in respect of FIR No. ECIR/02/STF/2021 of 21.1.2021, whereins, becomes constituted an offence embodied under Section 3, as, punishable under Section 4 of the Prevention of Money Laundering Act, 2002 (for short 'PML Act').

2. Learned counsel for the respondent has strongly opposed the according of indulgence of bail to the petitioner. His submission, opposing the grant of bail to the petitioner, is rested upon the necessity of this Court, recording an objective satisfaction, that there are reasonable grounds of believing that he is not guilty of such offence, and, that he is not likely to commit any offence while on bail.

3. The afore submission is further rested, upon an amendment, being made to Section 45 of the PML Act, hence subsequent to the decision, as, rendered by the Hon'ble Apex Court, in case titled 'Nikesh Tara Chand Shah', reported in 2018 (11) SCC 1. He has, therefore, submitted that though in judgment (supra), the Hon'ble Apex Court had annulled the validity of the apposite pre-amended twin conditions, as cast in Section 45 of the PML Act. Nonetheless, he has submitted that since post the verdict (supra), as made by the Hon'ble Apex Court in case (supra), rather through an amendment, being made to Section 45 of PML Act, the legislature resurrecting, reviving, and, validating the apposite twin conditions, which earlier became struck down, in Nikesh Tara Chand's case (supra). Therefore, he argues that unless this Court makes an objective satisfaction, that there are reasonable grounds of believing, that he is not guilty of such offence, and, that he is not likely to commit any offence while on bail, rather the facility of bail, be not accorded to the bail applicant. The pre-amended provisions of Section 45 of PML Act, which became struck down by the Hon'ble Apex Court, through a verdict made in case (supra), and, its provisions as now exist, rather after the apposite amendment, theretos hence being effected, reiteratedly subsequent to the making of a decision in Nikesh Tara Chand''s case (supra), are both extracted hereinafter. The apposite amended provisions are hereafter emphasised through underlinings.

“Section 45 Prior to Nikesh Tara Chand Shah

45. Offence to be cognizable and non-bailable)-

(1)Notwithstanding contained in the Code of Criminal Procedure, 1973 (2 of 1974), 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 offence while on bail:

Provided that a person, who is under the age of sixteen years, or is a woman or is sick or infirm, may be released on bail, if the Special Court so directs:”

Section 45 post to Nikesh Tara Chand Shah

45. Offence to be cognizable and non-bailable)-

(2)Notwithstanding contained in the Code of Criminal Procedure, 1973 (2 of 1974), no person accused of an offence under this Act 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 offence while on bail:

Provided that a person, who is under the age of sixteen years, or is a woman or is sick or infirm, or is accused either on his own or along with other co-accused of money-laundering a sum of less than