The High Court of Jharkhand has held that a person can be released on bail u/s 45 of the Prevention of Money Laundering Act (PML) Act if he suffered from sick or infirm.
The complaint was filed under sections 44 and 45 of the Prevention of Money Laundering Act, 2002 (PMLA Act, 2002) and alleged that the complaint case under the PMLA Act, 2002 has been initiated against the petitioner based on the F.I.R. registered by the C.B.I., A.C.B., Dhanbad being RC1(A)/2020-D dated 10.02.2020.
Further observed that it was stated that the aforementioned F.I.R. by the C.B.I., A.C.B., Dhanbad was registered against the petitioner based on one complaint filed by Amit Sarawgi alleging, inter alia, that the petitioner being ‘Insolvency Professional’ demanded a bribe of Rs.2 lacs per month from Amit Sarawgi for showing leniency in the insolvency resolution process for extending corporate insolvency resolution process from 9 months to two years and also demanded one time bribe of Rs.20 lacs from Amit Sarawgi for obtaining favourable forensic audit/valuation report from identified forensic auditor/valuer and for helping in repossession of plant/company by Amit Sarawgi.
The C.B.I., A.C.B., Dhanbad after investigation of the matter filed a charge sheet on 31.12.2020 under Section 7 of the Prevention of Corruption Act, 1988.
It was observed the petitioner is a Chartered Accountant by profession and after passing the examination, he became eligible to be appointed as an Insolvency Professional by the Committee of Creditors under Section 3(19) of IBC, 2016 for handling the companies under liquidation.
Justice Sanjay Kumar Dwivedi set aside the order dated 09.05.2022 passed in Misc. Criminal Application No.362 of 2022 by learned Additional Judicial Commissioner-XVIII-cum-Special Judge, Prevention of Money Laundering Act, Ranchi whereby the petition filed by the petitioner under Section 205 of the Code of Criminal Procedure (Cr.P.C.) for dispensing with the personal appearance of the petitioner has been rejected in connection with ECIR 05/2021, corresponding to CNR-JHRN01-002561-2022.
The Court allowed the application submitted by the petitioner to dispense with the personal appearance and permitted his counsel to appear on his behalf. The petition was allowed.
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