Point of law : The Authorities will release the applicant only if he is not required in connection with any other offence for the time being. If breach of any of the above conditions is committed, the concerned Trial Court will be free to issue warrant or take appropriate action in the matter. Bail bond to be executed before the Trial Court having jurisdiction to try the case.

JUDGMENT :

1. Heard the learned advocates for the respective parties through video conferencing.

FACTS:

2. The present application is filed under Section 439 of the Code of Criminal Procedure, 1973 (Cr.P.C.) read with Sections 44 and 45 of the Prevention of Money Laundering Act, 2002 (for short “the PMLA Act”) seeking regular bail in connection with the arrest order dated ECIR/01/STSZO/2020, passed by the Enforcement Directorate, whereby the applicant came to be arrested on 26.11.2020 under Section 19(1) of the PMLA Act.

3. The case of the prosecution as mentioned in the arrest order dated 26.11.2020 is that, the applicant and one Shri Sitaram Adukiya are the Directors of M/s.Sanket Media Private Limited, which is engaged in printing and publishing a newspaper “Satyam Times,” in Gujarati and English languages. The arrest order reveals that, the applicant and Shri Sitaram Adukiya have falsely declared very high numbers of circulation of these newspapers i.e. 23,500 and 6,000-6,300 copies daily for the Gujarati and English editions respectively, whereas actual circulation was much less i.e. only 300-600 and 0-290 respectively. It is stated that false figures of higher circulation were used to attract the prospective advertisement agencies, including Directorate of Advertisement and Visual Publicity. By virtue of forgery and use of such fraudulent circulation claims, the applicant and Shri Sitaram Adukiya cheated the Government and private advertisement agencies and thereby gained Rs.2,70,00,000/- towards advertisement. They used bogus purchase invoices and made false entries in the Books of Accounts for showing higher circulation and commission of the fraud. It appears that the applicant and the co-accused Shri Sitaram Adukiya had committed the scheduled offence and thereby generated proceeds of crime to the tune of Rs.2,70,00,000/-. Accordingly, the applicant was arrested and thereafter the authority, by undertaking necessary exercise in detail and confiscating the necessary papers in connection with the aforesaid offence, had filed the complaint being PMLA Case No.1 of 2021 before the Principal District and Sessions Judge, Ahmedabad (Rural), Dist. Ahmedabad. An F.I.R being CR-I/11210048201414/2020 was also registered at Umra Police Station, District Surat for the offence punishable under sections 465, 468, 471,420 and 120(B) of the Indian Penal Code, 1860 (the I.P.C.).

SUBMISSIONS OF THE APPLICANT

4. Learned Senior Advocate Mr.I.H.Syed appearing with Mr.Aniq Kadri, learned advocate appearing for the applicant has submitted that at the most looking to the papers of the investigation and the complaint, it can be said that the Government agencies are cheated to the extent of Rs.70 Lacs only, whereas the rest of the amount of Rs.2 Crores pertains to private transactions with private agencies. He has submitted that the Coordinate Bench of this Court, while releasing the applicant on regular bail in connection with the offences punishable under Sections 465, 468, 471, 420 and 120B of the IPC vide order dated 18.03.2021 passed in Criminal Misc. Application No.732 of 2021, had directed the applicant to deposit an amount of Rs.50,00,000/- within a period of twelve (12) months in periodical monthly installments and Rs.10,00,000/- within a period of 01 (one) week from the date of his actual release.

5. Learned Senior Advocate, Mr.Syed, on instructions, has submitted that the applicant is ready and willing to deposit some reasonable amount before the concerned court and the applicant, since being aged about 56 years and is suffering from different ailments, he may be released on bail.

6. With regard to the complicity of the present applicant, learned Senior Advocate Mr.Syed has submitted that in fact as per the complaint of the Department, the applicant had become a Director in the year 2019 and the period of the alleged irregularities is from 2008 to 2020. It is further submitted that the property worth Rs.4 Crores has already been attached by t