The Court noted that there is no time limit for filing a complaint or a final report under Section 45 (offences to be cognizable and non-bailable) of PMLA. However, a person cannot be arrested and kept in custody eternally on the pretext of there being no time limit under the Act.
Further, Section 167 (procedure when investigation cannot be completed in twenty-four hours) of the Code of Criminal Procedure (CrPC) provides that if the investigating agency fails to file a final report within 60 days or 90 days, depending on the maximum punishment in the penal statute, the person has the right to be released immediately.
The cap of 60 days is applicable in respect of an arrest under the PMLA, the Court held, observing that the maximum punishment is seven years and the minimum is three years:
“Therefore, even though there is no specific time limit prescribed under the Act for filing complaint/final report as contemplated under Section 45 of the Act, whenever a person is arrested by the Directorate of Enforcement under the provisions by resorting to the powers vested in it under Section 19 of the Act, the Directorate of Enforcement is expected to file a complaint/final report within 60 days from the date of arrest. In the event of failure to do so, indefeasible right is definitely to accrue to an accused under the Act.”
Source: Barandbench
