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BOMBAY HIGH COURT
NARESH T. JAIN – Appellant
Versus
THE STATE OF MAHARASHTRA – Respondent
JUDGMENT :
(MANISH PITALE, J.)
1. Heard Mr. Joshi, learned counsel for the applicant and Ms.Ambekar, learned APP for the respondent-State in both the applications.
2. The applicant in both the applications is the same individual and he has approached this Court seeking bail in two different FIRs registered against him and other accused persons.
3. The applicant is seeking bail in connection with C.R.Nos.36 of 2020 and 47 of 2020 registered by Economic Offences Wing (EOW), Mumbai. Initially, they were registered as FIR No.154 of 2020 dated 12.11.2020 with Cuffe Parade Police Station and FIR No.313 of 2020 dated 11.12.2020 with MRA Marg Police Station respectively. Both the FIRs have been registered for offences under Sections 406, 409, 420, 465, 467, 468, 471, 477-A read with 120-B of the Indian Penal Code, 1860 (IPC). The applicant is one of the accused persons. He was an internal auditor of Cox and Kings Limited (CKL).
4. On the basis of the complaint filed by the Complainant Smt. Vidya Sadashiv Shetty of Laxmi Vilas Bank against M/s Cox and Kings, Anthony Good, Urshila Kerkar, Ajay Ajit Peter Kerkar, Pesi S. Patel, Mahalinga Narayanan, Subhash Nautiyal Sagar Deshpande and others in co
The court emphasized the right to bail based on substantial incarceration and the principle of parity, finding that serious charges under IPC were not prima facie established against the applicant.
Point of Law : While granting bail, court has to keep in mind the factors like nature of accusation, nature of evidence in support thereof, severity of punishment which conviction will entail, charac....
The delay in trial, seriousness of economic offences, and the larger interest of the public are crucial factors in determining bail applications for serious economic offences.
In serious fraud cases, bail may be denied due to substantial allegations, criminal antecedents, and flight risk, despite long custody periods.
Default bail (Statutory bail) – No subterfuge should be resorted to, to defeat indefeasible right of accused for default bail during interregnum when statutory period for filing charge-sheet or chall....
The main legal point established in the judgment is the interpretation of the expression 'offence punishable with imprisonment for a term of not less than ten years' in Section 167(2)(a)(i) of the Cr....
The court emphasized the importance of balancing the interests of investigation and personal liberty of the accused, and held that the accused's right to default bail should not be frustrated by the ....
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