Issue for Consideration Issue arose whether the appellant-promoter and non-executive Chairman of a group entity, entitled to bail in a money laundering case when there has been long period of incarceration and the trial has not even commenced. Headnotes† Prevention of Money Laundering Act Alleged bank fraud running into several hundred crores – Entitlement to bail – FIRs registered at the instance of public sector banks alleging fraud to the extent of INR 385.35 crores and INR 289 crores respectively by the appellant-former promoter and non-executive Chairman of
Issue for Consideration Issue arose as regards the consolidation of FIRs; and whether or not the offences allegedly committed against the 1,852 complainants were part of the ‘same transaction’. Headnotes† Code of Criminal Procedure, 1973 – ss. 218-223 – 120B IPC that accused and his accomplices, including the respondent induced large number of people to invest their monies and duped them by falsely claiming to triple money in a few days – Investigation revealed that altogether 1,852 victims cheated to the tune of ₹46.40 crores –