SURESH KAIT, J.

1. Before entering the arena of matrix logy of instant matter, it would be in the fitness of things to make it clear that the facts and law in detail have been deliberated in the connected Bail Application No.1698/2011 of applicant Syed Nizam Ahmed, which are not being repeated.

2. The present petition is being filed by the applicant being aggrieved against the order dated 25.11.2011 passed by learned Additional Sessions Judge, Central District, Delhi whereby his bail application was rejected.

3. Mr. S. S. Gandhi, learned Senior Advocate has submitted that the petitioner was appointed as joint managing director (export) of the company – ZMPL with effect from 01.03.2004. It is submitted that in his acceptance for appointment of joint managing director (export), the petitioner sent communication dated 06.03.2004 which inter alia, contains following terms and conditions:-

“a) That my appointment shall be as Jt. Managing Director (Exports) for the export services to be rendered by me for getting export orders.

b) That I shall not be responsible for any difference in actual supply vs contracted grade/ quality/quantity of the material since the same has to be ensu