S.M. Daud, J. - This is an application for anticipatory bail under Section 438 of the Code of Criminal Procedure, 1973 - hereinafter referred to as the "Code".

2. On 31st May 1992, the premises said to be those of a person named Niranjan Shah were searched by Officers of the Income-Tax Department. In the course of this search, the Officers came across a large number of documents showing questionable deals by various persons. Some of the documents evidenced violations under the Foreign Exchange Regulation Act, 1973 - hereinafter referred to as the "FERA". Niranjan Shah made himself scares immediately after the search of his premises which had taken place on 31st May 1992. The petitioner came to be arrested on 4.6.1992 by the CBI in what is vow commonly referred to as the scam of the century. Since that time he is in custody and the custody has been continued from time to time. The last occasion when the petitioner was produced before the Special Court was on 17.7.1992 and the Judge presiding over the said Court is said to have given an indication that the petitioner's detention could not be continued indefinitely, for indefinite detention would amount to punishment