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 -Sunil Naraindas Godhwani (BAIL APPLN. 1005/2022), 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 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'). It operates as an