New Delhi, Sept. 11 -- The Rouse Avenue Court in Delhi has granted regular bail to insolvency professional Jitesh Gupta in a money laundering case, holding that the proviso to Section 45 of the Prevention of Money Laundering Act (PMLA) applies to him as the alleged proceeds of crime attributed to him were Rs.40.75 lakh, below the statutory Rs.1 crore threshold.

The court also found that Gupta had no connection with the scheduled offence, a position it noted was admitted by the Enforcement Directorate (ED), and held that the documentary material in the case deserved greater weight at the bail stage than statements recorded under Section 50 of the PMLA.

Special Judge (PC Act), Arun Sukhija, passed the order on September 9 in Directorate o...