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TMI Blog2019 (9) TMI 1617X X X X Extracts X X X X X X X X Extracts X X X X ..... of additional documents by the Investigating Officer, during the course of further investigation, now, these very employees and staff and many more of the company are once again required to be examined by way of their additional statements. That, per se, may not be the ground to reject the request of personal liberty. Already the first version is with the investigating officer - in absence of any such eventuality and with the previous statements of employees of the company already on record, this apprehension at present cannot take shape of reality. The interim bail of the the present applicant is extended for further period of 4 (four) months, subject to conditions imposed - application allowed. - R/CRIMINAL MISC. APPLICATION NO. 16569 of 2019 - - - Dated:- 20-9-2019 - HONOURABLE MS JUSTICE SONIA GOKANI MR VIRAT G POPAT(3710) for the Applicant(s) No. 1 MR. R.C. KODEKAR, LEARNED SPECIAL PP, for the Respondent(s) No. 1 MR. L.R. POOJARI, APP PUBLIC 2) for the Respondent(s) No. 2 ORAL ORDER 1. This is an application preferred under Section 439 of the Code of Criminal Procedure for regular bail in connection with RC No. 0292018A006 dated 26.03.2018 regist ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se aspects. The business affairs of the company from 2006 to 2018 is under investigation and the C.B.I. has found the disclosure of the false Stock Book Debt Statements, for which the chargesheet has already been filed. It was on the basis of such version, the bank had sanctioned the increased working capital facility and additional term loan facility from time to time and not for the regularization of the existing credit facilities of the company. The business affairs of the company since are still under investigation, it has urged the Court not to grant the regular bail as prayed for. It is the further the say of the respondent C. B.I., that Resolution Professional (RP) if appointed, it is between the Resolution Professional and NCLT for managing the business affairs of the company, which has no relevance with this application preferred for regular bail. 6. The following grounds are prayed for by the respondent C. B.I. for rejecting this application: A. To ascertain the modus operandi adopted by the borrower firm, of which he is the Managing Director, for inflating the turnover in order attain enhancement in sanction of Credit Facilities by forging valuable securities is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e allegation of the C.B.I. is of forging of valuable securities, the release of applicant may hamper the smooth flow of the investigation. He has also further urged that there are various crucial details which may not be obtained, if the present applicant continues to be outside. He further on instructions, from the Investigating Officer present before this Court, has fairly submitted that there are no untoward incident noticed nor any aspect which would necessitated the indulgence of this Court, misusing the liberty during these three months' period. He further resisted the prayer of grant of regular bail at this stage when investigation is continuing. 9. The Court had also heard learned advocate Mr. Parth Contractor appearing for Resolution Professional (RP) to get his assistance on various aspects. 10. The Court thus having heard both the sides and also having taken into consideration the chronology of events into account, papers of investigation and also case diary presented by the Investigating Officer, is inclined to consider the extension of interim bail rather than grant of regular bail. It has also noted that there had been no untoward incident nor any complaint ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Misc. Application No. 8438 of 2019 shall continue to govern the liberty of the petitioner. 14. For the foregoing reasons, interim bail of the the present applicant is extended for further period of 4 (four) months in connection with R.C.No.RC0292018A0006 dated 26.03.2018 registered with CBI/ACB Police Station, Gandhinagar on his executing personal bond of ₹ 2.5 Cr. and furnishing surety of ₹ 50 Lakh (cost) with two solvent sureties the said amount of ₹ 50 Lakh each to the satisfaction of the C.B.I. Court and subject to the conditions that he shall: [a] not take undue advantage of liberty or misuse liberty; [b] not to tamper with any evidence, and /or documents nor to act in a manner injuries to the interest of the prosecution; [c] surrender his passport, if any, to the C.B.I. Court within a period of three days from the date of his release; [d] shall not in any mode or manner transfer any of the properties which have been referred to at paragraph No.14 and 15.2. [e] mark his presence before the C.B.I./ACB office at Gandhinagar once in a fortnight on the 1st and the 15th day of every English calender month; [f] shall not leave the District Va ..... X X X X Extracts X X X X X X X X Extracts X X X X
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