JUDGMENT

Anoop Chitkara, J. -

Complaint case No.COMA-27-2022 dated 20.07.2022 in ECIR/CDZO-II/01/2019 dated 05.09.2019 against the petitioner under section 3 read with Section 70 & 4 of Prevention of Money Laundering Act (PMLA), 2002 and complaint filed under section 45 read with Section 4 4 of Prevention of Money Laundering Act, 2002 for the alleged commission of offence u/s 3 read with Section 70 of the Prevention of Money Laundering Act, 2002 punishable under section 4 of the PMLA.

The petitioner apprehending arrest in the complaint captioned above, on the allegations of laundering a massive sum of money in connivance with main accused, has come up before this Court under Section 438 CrPC seeking anticipatory bail.

2. In paragraph 14 of the bail petition, the accused declares that he has no criminal antecedents.

3. Petitioner's counsel argued that the custodial investigation would serve no purpose whatsoever and the pre-trial incarceration would cause an irreversible injustice to the petitioner and family.

4. ED's counsel strenuously opposes the bail.

Reasoning:

5. On Dec 20, 2022, this Court had passed the following order,

"Respondent has filed reply in compliance of the order dated 05.12.2022, the same is not up to the mark and is being returned with the direction to file affidavit from the concerned incumbent that why the petitioner was not arrested at the time of completion of investigation or preparation of the challan.

List on 24.01.2023.

Interim order to continue till the next date of hearing."

6. In response, Mr. Himanshu Agarwal, Assistant Director, Directorate of Enforcement, has placed on record the ED's response, which reads as follows:

"1. That, in compliance to order dated 05.12.2022 and order dated 20.12.2022, it is submitted that in present matter Ashok Kumar Mittal, Director of M/s Mahesh Timbers Pvt Ltd being the master mind behind the said embezzlement and laundering of massive sum of money, was arrested on 23.05.2022 invoking provisions of Section 19 of PMLA, 2022 and Prosecution Complaint/ Challan No. COMA/27/2022 dated 20.07.2022 was by this Directorate before the Hon'ble Special Court (PMLA),Panchkula within 60 days of arrest with Raman Singhal as one of the accused. The bail application of Ashok Kumar Mittal has been dismissed by this Hon'ble Court vide order dated 30.09.2022.

2. That, at this stage the petitioner Raman Singhal can not be arrested without warrants of Court since the Prosecution has been filed by the Directorate and the matter is subjudice before the Trial Court.

3. That, if bail application of Petitioner is declined by this Hon'ble Court, if deemed fit, Petitioner may be arrested and/or custodial interrogation may be sought from the Trial Court for further investigation. This Directorate is opposing the said bail application of the Petitioner as per Section 45 of PMLA, 2002 relying upon "Twin Conditions" which has also been upheld by the Hon'ble Apex Court in Vijay Madanlal Choudhary & Ors v. Union of India & Ors.

7. As per the response, the ED "may" arrest the petitioner in the event of the dismissal of his bail. Given such a stand buy the prosecuting agency, there is no reason or justification for this court to reject the bail. Reference be also made to paras 10 & 11 of Aman Preet Singh v. CBI , 2021 (4) RCR (Criminal) 108. However this court earnestly believes that the bail has to be as per stringent conditions to enable the ED and the aggrieved parties to initiate steps for recovery of the duped money.

8. The possibil