October 28, 2024
Stringent Bail Provisions Under Section 45 of PMLA Cannot Be Used To Detain Accused Indefinitely Says Delhi HC
Published by BW Legal
“Procedural safeguards and the right to bail must persist as bedrock principles in the justice system, even when laws impose restrictive conditions”, said the Court.
The Delhi High Court recently granted bail to two former Bhushan Steel Limited (BSL) officials involved in a ₹46,000 crore money laundering case, ruling that the stringent bail provisions under Section 45 of the Prevention of Money Laundering Act (PMLA) cannot be used to detain the accused indefinitely amid delays in the trial process.
The case involves Pankaj Kumar Tiwari and Pankaj Kumar both accused of financial fraud and money laundering allegations in the Bhushan Steel Ltd (BSL) matter. While Pankaj Kumar Tiwari was accussed of drafting templates for bill discounting and managing 150 shell companies used for money laundering, accused number 2 Pankaj Kumar was allegedly involved in accounts manipulation.