Supreme Court grants bail to Sahara Group executive in money laundering case

The Supreme Court has granted regular bail to a Sahara Group executive in a money laundering case registered under the Prevention of Money-Laundering Act, 2002. A Division Bench comprising Justices M.M. Sundresh and Prasanna B. Varale set aside the Calcutta High Court's order that had rejected the bail plea.

The Court considered that the appellant had been incarcerated for approximately 1 year and 3 months, cognizance had not yet been taken against them, and considerable time would be needed to complete the trial. These factors led the bench to conclude that continued detention was not justified.

The bail has been granted subject to conditions imposed by the trial court. The Supreme Court has directed the trial court to frame charges within 4 months from the date it receives a copy of the order. The money laundering case was registered by the Enforcement Directorate under Sections 3 and 4 read with Section 70 of the PMLA.