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AMIT SHARMA
Sunil Naraindas Godhwani – Appellant
Versus
State (NCT of Delhi) – Respondent
JUDGMENT
Amit Sharma, J.
1. The present application under Section 439 of the Code of Criminal Procedure, 1973 (`CrPC') seeks regular bail in case FIR No. 50/2019 dated 27.03.2019, under Sections 420/409/120B of the Indian Penal Code, 1860 (`IPC') registered at PS Economic Offences Wing.
1.1. By separate judgments of the same date, this Court has disposed of applications seeking regular bail filed on behalf of the other co-accused in the present FIR -Malvinder Mohan Singh (BAIL APPLN. 2810/2021), Kavi Arora (BAIL APPLN. 1059/2022) and Rajender Aggarwal (BAIL APPLN. 1384/2021).
Factual Background
2. The FIR in the present case was registered upon a complaint received from Mr. Manpreet Singh Suri, Authorized Representative of Religare Finvest Limited (`RFL') alleging a financial fraud perpetrated by the promoters of Religare Enterprises Limited (`REL') -Shivinder Mohan Singh and Malvinder Mohan Singh, the then Chairman-cum-Managing Director - Sunil Godhwani (applicant herein) and Narendra Kumar Ghoushal.
2.1. RFL is a company registered with the Reserve Bank of India (`RBI') and is licensed to undertake the business of financial services as a Non- Banking Financial Company (`NBFC'). I
The judgment emphasizes the importance of balancing personal liberty with the security of the community and the presumption of innocence until proven guilty.
Grant of Bail - Jurisdiction to grant bail must be exercised on the basis of the well-settled principles having regard to the facts and circumstances of each case.
Bail may be denied in serious economic offences if the accused poses a risk of tampering with evidence and if public money is involved. Court must ensure proper application of mind during bail decisi....
The triple test for grant of bail in cases involving economic offences under the PMLa is:
* Whether there are reasonable grounds for believing that the accused is not guilty of the offence;
The main legal point established in the judgment is that the grant of bail is the rule and refusal is the exception, and the gravity of the offence is an aspect to be kept in view by the Court. The c....
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