The Calcutta High Court has denied bail under Section 45 of the PMLA in a money laundering case related to the Sahara deposit scam. The court held that the petitioner failed to meet the twin conditions required for such bail.
Calcutta HC Denies PMLA Bail in Sahara Deposit Scam
The Calcutta High Court recently rejected a regular bail application under Section 45 of the Prevention of Money Laundering Act (PMLA) in a money laundering case connected to the Sahara deposit scam. The court concluded that the petitioner did not satisfy the requisite twin conditions for bail under the PMLA, which include proving the absence of likelihood of committing a similar offense and the absence of any flight risk.
This ruling underscores the strict requirements set forth in the PMLA, particularly regarding bail applications. The court emphasized the seriousness of the allegations involved and the potential impact on the financial system.
Practitioners should note the stringent approach adopted by the court and the challenges in securing bail in money laundering cases under the PMLA. This ruling serves as a reminder to ensure thorough preparation of arguments addressing the twin conditions outlined in Section 45.
Citations
- Sahara Group Case (2026) Calcutta HC
