( 1 ) RAMESH Kumar has moved this application for bail forthe offences punishable under Sections 120-B, 420, 468 and 471 Indian Penal Code and Section5 of Imports and Exports (Control) Act, 1947, read with Section 20 of the Foreigntrade (Development and Regulation) Act, 1992. A complaint dated 8th of October,1993 has since been filed in Court against the petitioner and two others, by which,the State through Shri Mahesh Chandra, Deputy Director General of Foreigntrade.

( 2 ) BRIEFLY stated, the averments made against the petitioner have been that asper the import policy for the year 1988 to 1991, the registered exporters could getadvance import licence under the duty exemption scheme for which, detailedprocedure for issue of licence has been prescribed in Chapter XIX Paras 347 to 358of Hand Book of Procedure. Further averments made are that M/s. Creative India,through its proprietor Ramesh Kumar submitted an application to the Office of thejoint Chief Controller of Imports and Exports for the grant of an advance importlicence for importing Stretch Denim Cloth and Velvet Cloth for CIF value ofrs. 13,36,335. 00 and Rs. 11,18,880. 00 respectively from M/s. Batshita Internat