No Automatic Bail for Magistrate-Triable PMLA Cases: Himachal Pradesh HC dismisses bail Application

The Himachal Pradesh High Court has ruled that there is no provision for automatic bail in cases under the Prevention of Money Laundering Act (PMLA), even if the offense is triable by a Magistrate. The court dismissed a bail application, emphasizing that the stringent twin conditions for bail stipulated in Section 45 of the PMLA must be satisfied regardless of the trial court's jurisdiction. The court observed that a delicate balance must be maintained between individual liberty and the larger societal interest in preventing economic offenses. It held that the gravity of the money laundering offense and the nature of the evidence collected by the prosecution are paramount considerations. This judgment clarifies that the severity of the alleged crime under the PMLA, not the level of the court trying it, dictates the application of its strict bail provisions.