In Brief
Rohit Tandon was arrested in connection with a scheme to convert approximately Rs. 38 crore in demonetised currency into new currency notes following India's demonetization announcement, using fictitious bank accounts and demand drafts. The Sessions Court and High Court both rejected his bail application under Section 45 of the Prevention of Money-Laundering Act, 2002. The Supreme Court upheld their decisions, finding that the statutory conditions for bail—requiring proof that the accused is not guilty and unlikely to reoffend—were not met. The Court held that the appellant failed to discharge the burden of proving the source of the currency, and that the material on record (witness statements, bank records, CDR analysis) established a strong case of money laundering. However, the Court directed the trial court to proceed expeditiously given the lengthy pre-trial custody period.
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