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RAJNISH BHATNAGAR
Vinay Sharma – Appellant
Versus
State (NCT of Delhi) – Respondent
ORDER
Rajnish Bhatnagar, J.
1. This is a petition filed by the petitioner under Section 439 Cr.P.C. seeking regular bail in case FIR No. 92/2016 under Sections 420/467/468/471/120B IPC registered at Police Station Barakhamba Road.
2. In brief the facts of the case are that one R. K. Sharma and Vinay Sharma (petitioner herein), on behalf of M/S Indian Technomac Company Ltd (ITCOL), executed various documents in order to avail Banking Facility to the tune of Rs.30 crore. It is further alleged that the bank agreed to consider opening of 'Letter of Credit,' as and when requested by the company. Subsequently, the facility was amended on the request of the company and amount of Rs.10 crores (out of Rs.30 crores) was sanctioned by way of overdraft and remaining Rs.20 crores by 'Letter of Credit' (LC) facility. Further, it is alleged that as per request of the alleged company, Letter of Credits amounting to Rs.20 crores were issued in favour of the raw material supplying companies but the said amount was not paid back by the alleged company. The alleged company also did not return the amount of Rs.10 crores used by way of overdraft facility. As a result, on the complaint of Shri Pradeep
The change in circumstances, including the framing of charges and commencement of evidence recording, can influence the decision to grant bail.
The potentiality of an accused fleeing from justice should not unduly influence the decision on bail, and specific conditions for bail should be tailored to the circumstances of the case.
The main legal point established is that the lack of wrongful loss and the limited role of the accused in the alleged offense can be grounds for granting bail.
Economic offences necessitate a distinct approach for bail, considering their impact on public funds and the economy, emphasizing the gravity and calculated nature of such crimes.
The court's decision emphasized the gravity of the offense, the modus operandi adopted by the petitioner, and the evidence collected during the investigation as key factors in dismissing the bail app....
The severity of the allegations, the modus operandi of the accused, and the principles laid down in previous judgments are crucial factors in determining the grant of bail.
Provisional bail granted conditionally, pending loan repayment verification.
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