In Brief
The Supreme Court held that provisions of Section 167(2) of the Code of Criminal Procedure, 1973 (which provides for statutory bail when no charge-sheet is filed within 60 days) apply to cases under the Prevention of Money Laundering Act, 2002. The Court rejected the High Court's view that Cr.P.C. procedures do not apply to PMLA proceedings. The appellant was entitled to statutory bail after 60 days of judicial custody without a complaint being filed. The Court relied on Section 4(2) Cr.P.C., explicit incorporation of Cr.P.C. in PMLA Sections 44-46 and 65, and precedent. The appeal was allowed and the appellant released on bail.
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