MADHAN Vs. STATE

JUDGEMENT

(1.) Madhan, the petitioner herein, was arrested by the respondent-Enforcement Directorate on 23.05.2017 for offences u/s. 3 and 4 of the Prevention of Money-Laundering Act, 2002 (for brevity "the PMLA"). After completing the investigation, the Enforcement Directorate has filed a complaint in C.C. No. 15 of 2017 before the Principal Sessions Court, Chennai (Special Court under the Prevention of Money Laundering Act) for offences under Section 3 read with Section 4 and 8(5) of the PMLA. Madhan continues to be in judicial custody and hence, he seeks bail. Since Section 45(1) of the PMLA places additional limitations on this Court for grant of bail under Section 439, Cr.P.C, this Court is constrained to narrate the facts in detail.

(2.) In the opinion of this Court, the facts obtaining in this case would provide a fertile plot for a crime thriller movie. Some of the incontrovertible notorious facts are as under:

(3.) Pachamuthu @ Pari Vendhar is the Founder-Chancellor of SRM University and also the Founder-President of India Jananayaka Katchi (IJK) party, a political outfit and his family runs a private TV channel by name Vendhar TV. SRM University is a deemed university and offers medical, engineering, law, arts and science courses. The said University runs colleges in Chennai, Trichy, Sikkim and also in various parts of Andhra Pradesh. Like any other private institution, SRM University also has seats under Management quota for MBBS and MD courses which are in great demand and naturally, has a price tag.