The court considered the delay in filing chargesheet, the accused's long service without adverse record, and the incomplete trial to grant bail.

JUDGMENT

Swarana Kanta Sharma, J. The instant application under Section 439 of the Code of Criminal Procedure, 1973 (`Cr.P.C') has been filed on behalf of applicant seeking bail in case FIR bearing no. 56/2018, registered at Police Station EOW, South East, Delhi, for the offences punishable under Sections 420/409/406/468/471/120B of the Indian Penal Code, 1860 (`IPC').

2. Briefly stated, the present FIR was registered on 16.03.2018 on the basis of complaint filed by then branch head of Punjab National Bank, Jangpura, Bhogal, New Delhi who had alleged that one Mr. Harjeet Singh (co-accused) i.e. sole proprietor of M/s. GTB Enterprises had obtained a cash credit facility to the tune of Rs.9.5 lakhs from the complainant bank in the name of his firm, which was sanctioned under the scheme of 'Credit Guarantee Fund Trust for Micro and Small Enterprises'. It was stated that the said facility was secured by hypothecating raw materials such as iron rods, steel rods, finished goods etc. However, during the investigation, no such unit was found at the given address and the rent agreement given by co-accused Harjeet Singh was found to be fake. As per prosecution, it was discovered during the course of investigation, while examining the bank statements of M/s. GTB Enterprises, that the amount in question was withdrawn by the borrower and transferred to various accounts which were either the shell companies or individuals and the same were used to show fake business transactions. It is alleged that the applicant/accused, who was the then Manager of complainant Bank, was responsible for sanctioning the credit facility to co-accused and it was alleged that he had sanctioned the loan to a non-existing firm and he had failed to monitor routing of sales during post-sanction follow up. It is further the case of prosecution that the applicant/accused himself used to visit the concerned properties and carry out the valuation of the same before sanctioning loans, and he himself used to look after each and every document which was relevant for the purposes of sanctioning the loan. On these allegations, the present FIR was registered.

3. Learned counsel for the accused/applicant states that the applicant was working as branch manager of the complainant Bank at the time of alleged offence but the documents pertaining to the loans obtained by the customers had to be checked by other persons also before it reached him. It is argued that applicant has been falsely implicated in the present cases on the basis of statements of co-accused persons and the prosecution has also not shown any money trail qua the applicant. It is also stated that though the case pertains to the year 2018,the chargesheet was filed on 24.01.2023, and even the charges are yet to be framed as the State is seeking adjournment on each date on one ground or the other. It is stated that the accused is in judicial custody since 28.10.2022 and several other co-accused were not even arrested in the present case. It is further stated that applicant has been granted bail in other cases registered at same point of time on the basis of similar allegations. It is therefore prayed that bail be granted to him.

4. Learned ASC for the State, however, argues that the allegations against the accused are serious in nature and the applicant had misused his official position for which six other FIRs are also pending against him. It is stated that the loans sanctioned by the applicant had become Non-Performing Assets (NPA) and during investigation, it was found that the customers had tendered false and fabricated documents on the basis of which loans had been sanctioned by the applicant.

5. The arguments addressed by both sides have been heard and material on record has been perused.

6. After hearing arguments and going through the case file, this Court is of the opinion that the present accused/applicant was the branch manager of the complainant Bank and some of the loans/credit facilities granted by