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TMI Blog2022 (4) TMI 1473X X X X Extracts X X X X X X X X Extracts X X X X ..... the documents have been made. The two units have been attached. Thus, there are no justification to detain the applicant behind bar pending trial which may take some time for its conclusion. The Applicant be released on bail on execution of a PR Bond in the sum of ₹ 1,00,000/- with one or two solvent sureties in the like amount to the satisfaction of the Special Court - application allowed. - CRIMINAL BAIL APPLICATION NO.330 OF 2022 - - - Dated:- 27-4-2022 - C.V. BHADANG, J. Mr. Aabad Ponda, Senior Advocate a/w Mr. Mayank Jain, Mr.Sebin Michal Joseph, Mr. Prathamesh Seth, Ms. Arundhati Saste and Mr. Mayur Mohite i/b SMJ Legal for the Applicant. Mr. H.S. Venegaonkar, for the Respondent. Mr. Y. Y. Dabke, APP for the Respondent-State. C.V. BHADANG, J. This is an application for bail. The applicant (Accused no 11 ) has been chargesheeted for the offence punishable under section 45 read with Section 3 and 4 of the Prevention of Money Laundering Act 2002 in PMLA Special Case No. 404/2021 arising out of ECIR/MBZO- I/39/2020. The applicant is a chartered Accountant by profession. The applicant was arrested on 23.01.2021 and since then is in custody ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iled by the applicant was rejected by the learned Special Court on 10.03.2021. The application for seeking release on default bail under section 167(2) of Cr.P.C. was rejected by the learned Special Court on 8.04.2021. Both these applications were filed during the pendency of the investigation and filing of the complaint. The applicant again approached the learned Special Court for bail, after filing of the complaint, claiming that the investigation qua the applicant is complete. That application is rejected on 23.10.2021. It is in in these circumstances that the applicant has approached this court for bail. As noticed earlier the applicant was on temporary bail from 6.12.2021 to 1.02.2022, on the ground of the health condition/treatment of his wife. 8. I have heard Mr. Ponda, the learned Senior Counsel for the applicant and Mr. Venegaonkar the learned Special Prosecutor for the respondent. With the assistance of the parties, I have gone through the record. 9. It is submitted by the learned Senior counsel for the applicant that the applicant who is a Chartered Accountant by profession was appointed as the professional/non executive Director of Viva Home Finance Ltd in 2014 an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s application was heard and closed for orders. Subsequent to this, the learned Special Court has granted bail to the accused Sarang Wadhawan (accused No.2) by order dated 07.04.2022 placing reliance on the guidelines issued by the Supreme Court on 07.10.2021 and 16.12.2021, in Satender Kumar Antil v/s. Central Bureau of Investigation and Anr. (Misc. Application No. 5191 of 2021). It is pointed out that the accused Sarang Wadhawan was not even arrested during the investigation. The learned Senior counsel has placed reliance on certain decisions, in order to submit that such discriminatory attitude by the Investigating Agency has also been held to be a good ground for grant of bail. 18. The learned Spl. P.P. has submitted that there is a specific role played by the Applicant in the mater of concealment of the nature of transaction by which the two units in the Kaledonia building were shown to be transferred by Wadhawan, to M/s. Viva Holdings, which is beneficially owned by Mr. Mehul Thakur and others. The learned Spl PP submitted that the consideration for the said transfer was shown to be Rs.34.36 crores and the Applicant was aware that the consideration never passed as the chequ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crucial information from the investigation which could have been otherwise relevant for investigation in the matter of money laundering against the co-accused. Fourthly, the allegation is that he claimed to have sold his laptop as a scrap for a sum of Rs.300/- without taking any backup, which according to the prosecution is highly suspicious and dubious. Insofar as the charges under the PMLA in para 14.11 of the complaint is concerned, again the allegation is that he knowing ignored the fact regarding nonencashment of the cheques by Mack Star. It is necessary to note that there are no allegations in para 14.11 about the applicant having illegally prepared the balance sheet. The learned Senior Counsel for the applicant submitted that the balance sheet for Viva holding for the year ended of 31.03.2018 (page 170 of compilation) in which in schedule E investment in office is indeed shown as Rs.39,03,20,330/-. It may be mentioned that primary allegations are about the alleged conspiracy between the officials of Yes Bank and the officials of HDIL of misuse of loans given by Yes bank during the period from 2011 to 2016. The role of the applicant, if any, is subsequent to the two agreemen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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