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IN THE HIGH COURT OF ORISSA AT CUTTACK
G.SATAPATHY
Deepak Kindo – Appellant
Versus
State of Odisha – Respondent
| Table of Content |
|---|
| 1. facts of the case and allegations against the petitioner. (Para 1 , 2) |
| 2. arguments for and against bail application. (Para 3) |
| 3. court’s analysis of bail application factors. (Para 4 , 5 , 6 , 7 , 8 , 9 , 10) |
| 4. court’s reasoning based on precedents and seriousness of the charges. (Para 11 , 12 , 13 , 14) |
| 5. conclusion rejecting the bail application. (Para 15) |
JUDGMENT :
G. Satapathy, J.
1. This is an application U/S.483 of BNSS by the petitioner for grant of bail in connection with EOW-CID, CB PS Case No.17 of 2021 corresponding to CT Case No.35 of 2023 for commission of offences punishable under Sections 406 /420/467/468/471/120-B of the IPC pending in the file of learned PO Designated Court under OPID Act, Cuttack.
2. The allegation against the petitioner in precise is that the petitioner was the Managing Director of Sambandh Finserve Private Limited (hereinafter referred to as “SFPL”), a non-banking financial company having its corporate office at civil township, Rourkela and it had the permission of R.B.I. to carryout business of Non-Banking Financial Services (NBFC) & Micro Finance Institutions (MFI) operation and the petitioner being the Managing Director of S
In serious fraud cases, bail may be denied due to substantial allegations, criminal antecedents, and flight risk, despite long custody periods.
The court determined that the serious allegations of financial fraud, coupled with the accused's criminal history and risk of witness tampering, justified a refusal of bail.
Bail – In a case involving large scale financial fraud particularly those affecting public, Court shall be duty-bound to approach the case for bail in a cautious and guarded manner.
Criminal proceedings are not meant for recovery of disputed dues; the presumption of innocence underlies the decision to grant bail when no risk of flight or witness tampering is established.
Bail cannot be granted when there is substantial evidence of fraud, a significant flight risk, and a history of similar offenses by the petitioner.
The judgment emphasized the seriousness of economic offences, the need for custodial interrogation, and the balance between individual rights and public interest in granting anticipatory bail.
Bail is granted when the accused has not misused liberty, factors indicate compliance, and the presumption of innocence is upheld; restrictions are imposed to ensure trial cooperation and prevent abs....
Bail should not be denied solely based on the seriousness of the charges; considerations must include the necessity of ensuring the accused's presence at trial and not obstructing justice.
The court balanced the right to personal liberty with the need for the accused's presence at trial, emphasizing that continued custody should be based on the risk of interference in the administratio....
Bail may be granted considering severe health conditions, risk of absconding, and presumption of innocence, despite serious allegations of financial fraud.
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