JUDGEMENT OF THE HON’BLE SUPREME COURT OF INDIA IN THE CASE TITLED “SERIOUS FRAUD INVESTIGATION OFFICE VS. NITTIN JOHARI & ANR, (2019) 09 SC CK 0032” CONCERNING OFFENCES UNDER PREVENTION OF MONEY LAUNDERING ACT
Serious Fraud Investigation Office vs. Nittin Johari &
Anr, (2019) 09 SC CK 0032
PARA NO. 8
With respect to the twin mandatory conditions under Section
212(6)(ii) of the Companies Act, learned Senior Counsel highlighted that in
Nikesh Tarachand Shah (supra), Section 45 of the PMLA had been held
unconstitutional not only under Article 14, but also under Article 21 of the
Constitution, as the said section made drastic inroads into the fundamental
right of liberty without there being a compelling state interest. However,
without going into the question of the constitutionality of Section 212(6) of
the Companies Act itself, it was stressed that since the provision, as it
exists, requires the Court to practically record a finding of acquittal in
order to grant bail, it is well nigh impossible for an applicant to obtain bail
under the provision.
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