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TMI Blog2018 (9) TMI 1970X X X X Extracts X X X X X X X X Extracts X X X X ..... a genuine case against the accused and the prosecution will be able to produce prima facie evidence in support of the charges. It is a settled preposition of law that while granting bail though the Court may impose reasonable conditions as it thinks fit but the object of putting conditions is to avoid the possibility of the person hampering investigation. The discretion of the Court while putting condition is to be in exercise of judicial discretion. Without commenting anything on the merits of the case as allegations are matter of evidence to be tested by the trial Court during the course of trial and by considering that the petitioner is in custody for the last more than one year and two months and also the fact that challan has been presented before the trial Court, the offences are triable by Magistrate - petitioner shall furnish a personal bond in the sum of ' 5 lacs with the sureties in the like amount to the satisfaction of the trial Court. The petitioner is directed to be released on regular bail - Petition allowed. - CRM-M No. 46946 of 2017 - - - Dated:- 24-9-2018 - Daya Chaudhary, J. For the Appellant : Anmol Rattan Sidhu, Senior Advocate, Harsimran ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed senior counsel further submits, that each and every document as well as financial data was taken into consideration with all transparency, independent scrutiny and audit by the auditors. Learned senior counsel submits that there was no deviation from the norms, policy and procedure adopted by the bank. The credit facilities were sanctioned by the Head Office vide sanction letter dated 27.01.2011, 15.05.2012 and 29.03.2013. The company was sanctioned enhancement of limit from ' 36 crores to ' 48 crores vide Head Office sanction dated 15.05.2012. The amount of loan was directly paid through draft/RTGS from the concerned branch of the bank. Learned counsel also submits that internal audits and a stock audit were also conducted through independent professionals. No material deviation was found in the conduct of business of the borrower firm. The industrial unit of the borrowers was also jointly inspected by the petitioner along with other officers of the bank and same was found to be running satisfactory as per unanimous opinion of the inspecting team. Learned senior counsel also submits that no offence is made out under Section 420 IPC. Even no allegation under Section 467 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, in respect of machines and equipments for end use of Term Loans funds by M/s. RSF. It has been found in the investigation that M/s. RSF through its accused Directors were involved in circular financial transaction in allowing the release of loan amount to bogus firms/companies in furtherance of criminal conspiracy with other accused and cheated the bank by relying upon forged documents and wrongful loss has been caused to the bank. Specific allegations are there against the petitioner and other co-accused. 4. Heard arguments of learned counsel for the parties and have also perused the contents of the FIR and other documents available on the file. 5. As per the allegations in the FIR, the borrower was not entitled to sell/dispose of stocks without consent of the bank and the sale made by the borrower is illegal. It is also the allegation that borrower has submitted false and fabricated record and played fraud with the bank for getting excessive limit and a wrongful loss has been caused to the bank. 6. On perusal of contents of the FIR, it reveals that there is no specific attribution and role to the petitioner. A chain of officers is there in the process. As per the case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has not been convicted or that in any circumstances, he should be deprived of his liberty upon only the belief that he will tamper with the witnesses if left at liberty, save in the most extraordinary circumstances. 23. Apart from the question of prevention being the object of refusal of bail, one must not lose sight of the fact that any imprisonment before conviction has a substantial punitive content and it would be improper for any court to refuse bail as a mark of disapproval of former conduct whether the accused has been convicted for it or not or to refuse bail to an unconvicted person for the purpose of giving him a taste of imprisonment as a lesson. xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx 46. We are conscious of the fact that the accused are charged with economic offences of huge magnitude. We are also conscious of the fact that the offences alleged, if proved, may jeopardise the economy of the country. At the same time, we cannot lose sight of the fact that the investigating agency has already completed investigation and the charge-sheet is already filed before the Special Judge, CBI, New Delhi. Therefore, their presence in the custody may not be necessary for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ivation of liberty must be considered a punishment unless it is required to ensure that the accused person will stand his trial when called upon. The Supreme Court further observed that when a person is punished by denial of bail in respect of any matter upon which he has not been convicted it would be contrary to the concept of personal liberty enshrined in the Constitution except in cases where there is reason to believe that he will tamper with the witnesses. To encapsulate, the Hon'ble Supreme Court has held that pre-conviction detention should not be resorted to except in cases of necessity to secure attendance at the trial or upon material that the accused will tamper with the witnesses if left at liberty. 9. As per judgments of Hon'ble the Apex Court in cases Babba v. State of Maharashtra 2005 (11) SCC 569 and Vivek Kumar v. State of U.P. 2000(9) SCC 443, in case, there is a delay in the trial, the bail should be granted to the accused. The Court, while granting bail, is to consider the circumstances, the factors such as the nature of accusation and severity of punishment in case of conviction and the nature of supporting evidence; reasonable apprehension of tamp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eme Court 1095, even though the counsel for the State argued that the corruption of which the accused was prima facie guilty was substantial, the Supreme Court held that it was not sufficient reason to refuse bail. In paragraph 2 of the said judgment the Supreme Court held thus:- Counsel for the State pressed before us that the corruption of which the appellant was guilty prima facie according to the results of the investigation) was substantial. Let us assume so. Even then refusal of bail is not an indirect process of punishing an accused person before he is convicted. This is a confusion regarding the rationale of bail. This Court has explained the real basis of bail law in Gurcharan Singh v. State (Delhi Administration) AIR 1978 SC 179; (1978 Crl. L.J. 129). 13. In Gurbaksh Singh Sibbia etc. v. The State of Punjab, reported in AIR 1980 Supreme Court 1632, the Supreme Court has observed that Judges have to decide cases as they come before them, mindful of the need to keep passions and prejudices out of their decisions. The Court has also observed that in which case bail should be granted and in which case it should be refused is a matter of discretion. The court found it i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It is thus clear that the question whether to grant bail or not depends for its answer upon a variety of circumstances, the cumulative effect of which must enter into the judicial verdict. Any one single circumstance cannot be treated as of universal validity or as necessarily justifying the grant or refusal of bail. 14. In State v. Jaspal Singh Gill, reported in AIR 1984 Supreme Court 1503, the Supreme Court expressed the view that the Court before granting bail in cases involving non-bailable offences particularly where the trial has not yet commenced should take into consideration various matters such as the nature and seriousness of the offence, the character of the evidence, circumstances which are peculiar to the accused, a reasonable possibility of the presence of the accused not being required at the trial, reasonable apprehension of witnesses being tampered with, the larger interest of the public or the State and similar other considerations. 15. The Delhi High Court in Anil Mahajan's case (supra) has summarised certain points, which are as under:- (a) Personal liberty is too precious a value of our Constitutional System recognised under Article 21 that the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nale behind the ban imposed under Section 437(1) against granting bail to persons accused of offences punishable with death or imprisonment for life. (h) There is no hard and fast rule and no inflexible principle governing the exercise of such discretion by the Courts. There cannot be an inexorable formula in the matter of granting bail. The facts and circumstances of each case will govern the exercise of judicial discretion in granting or refusing bail. The answer to the question whether to grant bail or not depends upon a variety of circumstances, the cumulative effect of which must enter into the judicial verdict. Any one single circumstance cannot be treated as of universal validity or as necessarily justifying the grant or refusal of bail. (i) While exercising the discretion to grant or refuse bail the Court will have to take into account various considerations like the nature and seriousness of the offence; the circumstances in which the offence was committed; the character of the evidence; the circumstances which are peculiar to the accused; a reasonable apprehension of witnesses being influenced and evidence being tampered with; the larger interest of the public or th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the ground that the offence involved belongs to a particular category. When the Court has been granted discretion in the matter of granting bail and when there is no statute prescribing a special treatment in the case of a particular offence the Court cannot classify the cases and say that in particular classes bail may be granted but not in others. Not only in the case of economic offences but also in the case of other offences the Court will have to consider the larger interest of the public or the State. Hence only the considerations which should normally weigh with the Court in the case of other non bailable offences should apply in the case of economic offences also. It cannot be said that bail should invariably be refused in cases involving serious economic offences. (o) Law does not authorise or permit any discrimination between a foreign National and an Indian National in the matter of granting bail. What is permissible is that, considering the facts and circumstances of each case, the Court can impose different conditions which are necessary to ensure that the accused will be available for facing trial. It cannot be said that an accused will not be granted bail becaus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed and facts and circumstances of the case. It is also one of the factors while considering the bail that that is a reasonable possibility of securing the presence of the accused during trial and reasonable apprehension of the witnesses being tampered with. The larger interest of the public/State and some other similar considerations are also there. However, for the purpose of granting bail, the Legislature has used the words reasonable grounds for believing instead of the evidence , which means the Court while dealing with the grant of bail can only satisfy itself as to whether there is a genuine case against the accused and the prosecution will be able to produce prima facie evidence in support of the charges. At this stage, it is not expected to have the evidence establishing the guilt of the accused beyond reasonable doubt. It has been held in various judgments of this Court as well as Hon'ble the Apex Court that in economic offence, the view point is to be taken differently with different approach in case of bail. The economic offence having deep rooted conspiracies and involving huge loss of public funds needs to be taken seriously and considered as grave offence affe ..... X X X X Extracts X X X X X X X X Extracts X X X X
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