HC denies Bail to MD of IL&FS Transportation in alleged Money Laundering case

Ramchan Krunakaran Vs Directorate of Enforcement (Bombay High Court) In Nikesh Tarachand Shah Vs. Union of India,  2018(11) SCC 1, the Apex Court has reiterated the principle concerning grant of bail being the rule and refusal being exception and while dealing with Section 45 of the PMLA Act which imposes twin stringent condition for offences classified thereunder, direction was issued to reconsider all Bail Applications denied under Section 45 on merits without applying the twin stringent conditions. In the wake of the said authoritative pronouncement, the complaint of the applicant would be...