ORDER :

RAJNISH BHATNAGAR, J.

1. The present bail application has been filed by the petitioner under Section 45 of the Prevention of Money Laundering Act, 2002 R/w Section 439 Cr.P.C. seeking regular bail in ECIR No. DLZO-I/43/2021 dated 20.05.2021.

2. Briefly stated, the facts of the case are that a CBI case was registered vide RC 221/2021/E/0009 on 17.05.2021 U/s 120B, 420 IPC and Sec. 13(1)(d) r/w Sec. 13(2) of the Prevention of Corruption Act, 1988 (hereinafter referred to as PC Act) against the present petitioner/accused and other accused persons.

3. The present petitioner/accused was a Senior Vice President of M/s Jyoti Trading Corporation, at the relevant time. The accused persons named in the CBI case entered into a criminal conspiracy during 2007 to 2014 and cheated and defrauded IFFCO and Indian Potash Limited. (IPL), the share holders of those entities and the Government of India by fraudulently importing fertilizers and other materials for fertilizer production at inflated prices and claimed higher subsidy from Government of India causing loss of several crores of rupees. They allegedly siphoned off the commission received from the suppliers through a complex web of fake co