IMPORTANT POINT
Bail conditions must be reasonable and not excessively burdensome, as imposing onerous conditions can infringe upon the fundamental rights of the accused under Article 21 of the Constitution.

JUDGMENT :

HONOURABLE MR. JUSTICE ROBIN PHUKAN

Heard Mr. A.K. Das, learned Senior Counsel, assisted by Mr. J. Rohmingthanga, learned counsel for the petitioner. Also heard Ms. Linda L Fambawl, learned Public Prosecutor, for the state respondent. Also heard Mr. M. Singh, learned Senior Counsel assisted by Mr. R. Mishra, learned counsel for the first informant. It is to be noted here that the first informant i.e. Mahindra and Mahindra Financial Services Ltd., (MMFSL), represented by Chanpreet Singh, has filed one interlocutory application under Section 301 Cr.P.C. in Criminal Petition No.15/2024, for allowing to assist the Public Prosecutor and to file objection in the petition. And after hearing both side, the first informant was allowed to assist the Public Prosecutor and to participate in the hearing on the said without however allowing it to file written objection.

2. In this petition, under Section 482 of the Code of Criminal Procedure, the petitioner, namely, Dr. Madhurjya Sarma, has prayed for partially set aside/modify the order dated 13.06.2024, by reducing the bail bond amount of Rs.45 lakhs, imposed by the court of learned Addl. Sessions Judge-I, Aizawl in Bail Application No. 676/2024, arising out of Crime and Economic Offence P.S. Case No. 03/2024, under Sections 408/419/466/467/468/470/471/477A/120B IPC. It is to be noted here that vide impugned order dated 13.06.2024, the learned Addl. Sessions Judge, Aizawl had granted bail to the petitioner, who was arrested in the aforesaid case, on furnishing bail bond of Rs.45,00,000/-with two sureties of like amount.

3. The background facts, leading to filing of the present petition, is adumbrated herein below:-

“One Chanpreet Singh, Business Head, Mahindra and Mahindra Financial Services Ltd. (MMFSL) lodged one FIR with the Officer-In-Charge, Crime and Economic Police Station, Aizwal, Mizoram alleging inter-alia amongst others that during routine verification, they have come across a large scale fraud committed by their Area Business Manager Mr. Jakir Habibur Hussain in sanctioning many vehicles loans at their Aizawl Branch. Then on broader scrutiny of the records they have found Jakir Habibur Hussain and his co-conspirator H. Lalthankima and Edenthara had impersonated the official identity of the informant and had created a fake entity i.e. Mahindra Finance Limited with similar description of his company and executed fraudulent transactions, including cash in crores through fake entity set up through his coconspirator. In order to open the said account the accused persons have forged company seal, PAN number, represented themselves as authorized person of MMFSL with the common object to gain undue advantage and defraud the MMFSL and public at large. Account statement of the fake account reveals that there was transaction of more than Rs. 80 Crores in the said account within a short span of nearly 3 years.

Upon the said FIR the Officer-In-Charge Crime and Economic Offence P.S. had registered a case, being Case No. 03/2024, under Sections 408/419/466/467/468/470/471/ 477A/120B IPC and carried out investigation. Then on completion of investigation, the I.O. had arrested accused Jakir Habibur Hussain and others including the present petitioner who were arrested in the said case and forwarded them to the court. Then after competition investigation, the I.O. had laid charge sheet against the accused persons to stand trial in the court under the said sections of law on 25.06.2024.

The petitioner, namely, Dr. Madhurjya Sarma, during the course of investigation, was granted bail by the court of learned Additional Sessions Judge, Aizawl vide impugned order dated 13.06.2024, on furnishing bail bond of Rs.45,00,000/- with two sureties.”

4. Being highly aggrieved, the petitioner has approached this court by filing the present petition for partially setting aside/modify the order dated 13.06.2024, by reducing the bail bond amount of Rs.45 lakhs imposed by the court of learned Addl. Sessions Ju