The main legal point established in the judgment is that the gravity of economic offences and the documentary nature of evidence should be considered while deciding bail applications, and deprivation of liberty should be seen as a form of punishment.

JUDGMENT

Amit Sharma, J. The present application under Section 439 read with Section 482 of the Code of Criminal Procedure, 1973 (`CrPC') seeks regular bail in case FIR No. 65/2018, under Sections 406/409/419/420/467/468/471/120B of the Indian Penal Code, 1860 (`IPC'), registered at P.S. Economic Offences Wing (`EOW').

2. It is pertinent to note that by separate judgments of same date, this Court has disposed of two other bail applications preferred by the present applicant, i.e., BAIL APPLN. 1075/2023 in relation to case FIR No. 63/2018, under Sections 406/409/419/420/467/468/471/120B of the IPC, registered at P.S. EOW and BAIL APPLN. 1578/2023 in relation to case FIR No. 62/2018, under Sections 406/409/419/420/467/468/471/120B of the IPC, registered at P.S. EOW. The allegations in the said FIRs are similar to ones in the present case.

3. The case of the prosecution as per status report dated 28.07.2023, authored by Mr. Ramesh Kumar Narang, Assistant Commissioner of Police, Economic Offences Wing, Delhi, is as under:

"2. That the brief facts of the case are that one Sarabjeet Kaur, w/o Sh Tarvinder Singh, r/o C-4/89/2, First Floor, DDA Flats, Safdarjung Development Area, Delhi-llOOI6, sole proprietor of M/s Grace Handloom having its office at C-4/89/2, First Floor, DDA Flats, Safdarjung Development Area, Delhi-II 00 16, obtained a cash credit limit worth Rs.60 lakh from the complainant bank in the name of her above firm.

3. That the above said credit facility was availed by Sarabjeet Kaur through her firm Grace Handloom in the year 2015 by mortgaging a property bearing No. C-4/89/2, Safdarjang Development Area, New Delhi in the name of Sh. Avtar Singh and an `Agreement of Guarantee' was also executed by the said Avtar Singh. However, the said Avtar Singh was not the real Avtar Singh. Later on, the borrower defaulted in the payments and her account was declared Non-Performing Asset. On enquiry, when the title deeds deposited with the bank was verified from the Sub-Registrar Office, it was revealed that the title deed deposited by the guarantor/mortgager was fake as the details of owner of the property as mentioned on the title deeds deposited with the bank did not match with the available record of the Sub-Registrar Office.

4. That, during the course of investigation, the complainant was examined and relevant documents related to the sanction of the cash credit facility to M/s Grace Handloom (Prop. Sarabjeet Kaur) were seized. On perusal of the said documents, the following facts emerged:

a) A cash credit facility worth Rs.60 Lacs was sanctioned by the complainant bank to M/s Grace Handlooms (Sarabjeet Kaur) vide sanction letter dated 25.07.2015.

b) Against these facilities, the borrower had signed hypothecation agreement of goods and book debts in favor of the complainant bank.

c) The cash credit facility was availed by the accused firm/person namely Grace Handloom/Sarabjeet Kaur in the year 2015 by mortgaging a property bearing No. C-4/89/2, Safdarjang Development Area, New Delhi in the name of Sh. Avtar Singh and an `Agreement of Guarantee' was also executed by the said Avtar Singh, who is turn was not the real Avtar Singh.

d) When the title deed deposited with the bank was verified from the Sub-Registrar Office it was revealed that the title deed deposited by the guarantor/mortgager was fake as the details of owner, property as mentioned on the title deeds deposited with the bank did not match with that available with the Sub-Registrar Office.

e) Accused Sarabjeet Kaur and the purported guarantor Avtar Singh used the forged sale deed/conveyance deed and provided false and purported documents to the complainant bank for availing the cash credit facility.

f) Original property No. C-4/89/2, First Floor, DDA Flats, Safdarjung Development Area, New Delhi has been sold by `original Sh Avtar Singh to one Sh Minish Agarwal vide Sale Deed dated 23'11.2016. "

5. That, during the course of investigation, accused Rajiv Kumar Nigam, the then Br