Punjab And Haryana High Court: Bail Granted To Person Booked Under PMLA For Allegedly Defrauding Bank Of Rs 155 Crore

The Punjab And Haryana High Court in the case Ashok Kumar Mittal v. CBI & another observed and has granted bail to a person booked in a case under Prevention of Money Laundering Act for defrauding a bank for an amount of Rs.155 Crore.
The bench headed by Justice Anoop Chitkara in its order stated that the possibility of the accused influencing the investigation, tampering with evidence, intimidating witnesses, and the likelihood of fleeing justice can be taken care of by imposing elaborate and the stringent conditions.
It has also been alleged before the court that the petitioner in the case defrauded the bank to the tune of Rs.155.21 Crores and it has been stated that as per the probe agencies, thus, the document of acceptance and payment of DP bills has also been signed by him wherein it which reflects the unauthorised amended amount of LC. Therefore, he in the case also alleged forged bills of entry submitted to the OBC against LCs.
However, the bench of Justice Chitkara in the case noted that petitioner has been in custody since 23.05.2022.
Further, the court stated that while giving the pre-trial custody, coupled with the prima facie analysis of the nature of allegations, and the other factors peculiar to this case, there would be no justifiability for further pre-trial incarceration at the said stage which being subject to the compliance of terms and conditions mentioned in the said order.
Adding to it, the court stated that petitioner being the first offender and one of the relevant factors would be to provide an opportunity to course- correct.
The counsel, Senior Advocate Vikram Chaudhri, with Advocate Keshavam Chaudhri, Advocate Parvez Chaudhary, Advocate, Hargun Sandhu, and Advocate Sajal Bansal appeared for the petitioners.
The counsel, Advocate Rajeev Anand appeared for the respondent-CBI.
The counsel, Satya Pal Jain, Addional Solicitor General of India with Lokesh Narang, Senior Panel Counsel represented the respondent-ED.