Judgment

B.N. Mahapatra, J.

This bail application under Section 439 of the Code of Criminal Procedure, 1973 (in short ‘Cr. P.C.’) is presented by the accused-applicant Madhusudan Panigrahi.

2. The petitioner is alleged to have committed offence punishable under Sections 465/467/471/406/411/420/506/ 120-B/34 of the Indian Penal Code, 1860 (in short ‘IPC’) read with Section 4 of the Prevention of Money Laundering Act, 2002.

3. Facts leading to arrest of the petitioner having been elaborately dealt with in the earlier order dated 04.04.2013 passed in BLAPL No.1469/2013 when the order rejecting BLAPL was passed, there is no need to repeat the same in the present order.

4. The matter was before this Court in BLAPL No.1469 of 2013. By judgment dated 04.04.2013, the application for bail was rejected inter alia with following observations: the rival contentions of the parties and keeping in mind the principle of law laid down by the Hon’ble Supreme Court, the prayer for bail made by the petitioners was rejected.

(i) Taking into account the nature and magnitude of the offence and its ramification as alleged, it cannot be said that it is a case of breach of contract simpliciter committed by th