Chennai: Granting conditional bail to Madhan of Vendhar Movies, accused in money laundering under Prevention of Money-Laundering Act, 2002, Madras High Court said the Act is a welcome legislation, but, it is a sledge-hammer and should not be used to crack nuts, lest, it should earn the wrath of the common man resulting in its very repeal by the legislature and it should be used against sharks and not shrimps.
Enforcement Directorate arrested him on a police FIR registered on June 4, 2016. ED filed a complaint before the Principal Sessions Court (Special Court for PMLA cases), against only Madhan.
When the matter came up for hearing Justice PN Prakash granted him conditional bail and said, “it is apparent that a shoddy investigation has been hurriedly done to prevent Madhan from being released on compulsory bail under Section 167(2) Cr.P.C.”
The judge said ED has not produced any material to show that apart from the present offence relating to 133 complaints, Madhan was involved in any other offence earlier. With the bluff having been blown now, be it SRM University or any other private university, would not enlist the services of Madhan to be their broker for him to keep committing such offences.
The judge said this court granted bail to Madhan not because he is an angel but because evidence produced by ED does not pass muster.
The judge ordered release Madhan on a bond of Rs 50,000 and directed him to report before the Principal Sessions Judge, daily at 10.30 am until further orders.
