The seriousness of economic offences and the need for a different approach in bail considerations for such cases.

JUDGMENT :

1. Heard Sri V.P. Srivastava, learned Senior Advocate assisted by Sri Shishir Tandon, learned counsel for the applicant, Sri Gyan Prakash, learned Senior Advocate/Deputy Solicitor General of India assisted by Sri Sanjay Kumar Yadav, learned counsel for the C.B.I. and perused the record.

2. The present anticipatory bail application under Section 438 Cr.P.C. has been filed by the applicant-Smt. Deepa Jain, seeking anticipatory bail, in the event of arrest in Special Case No.2A of 2012, RC No.BDI/2010/E/0004, under Sections 120-B r/w 420, 467, 468, 471 IPC and Section 13(2) r/w 13(1(d) of the Prevention of Corruption Act, 1988 and substantive offence 468 IPC, P.S. CBI/BS & FC, New Delhi, during the pendency of trial before the court below.

3. An FIR was lodged on 6.5.2010 by A.K. Budhraja, Assistant General Manager, Union Bank of India, Agra against Santosh Kumar Jain, Amit Jain, Vivek Jain, Vinod Bala Jain, G.S. Mehta, S.P. Sharma and others with regards to fraud of Rs.1260.58 lakhs perpetrated by Directors and Officials of Alka Group of Company with Gandhi Eye Hospital, Branch Aligarh of the Bank stating that false and forged transport receipt of M/s Delhi-Indore Transport Company were fraudulently prepared, false invoices and bills of exchange of M/s NTF Pvt. Ltd., M/s Arihant Narrow Fabricks Pvt. Ltd., M/s Altra Auto Engineering Pvt. Ltd. and M/s Paras Polymers Ltd. showing supply of materials to M/s AIL and M/s ALPL were used as genuine by Santosh Kumar Jain to avail finance from Union Bank of India. The applicant was not named in the FIR. The investigation concluded and charge sheet was submitted against the applicant and other persons including the Companies.

4. Learned counsel for the applicant argued that the applicant has been falsely implicated in the present case. It is argued that the applicant is not named in the FIR. While placing para 15 of the affidavit filed in support of anticipatory bail application, it is argued that the applicant is an employee of M/s Alka International Ltd. and M/s Locks Private Ltd and was receiving a salary of Rs.5,000/-per month. It is argued that the said fact has not been disputed in the counter affidavit by the C.B.I in para 26. It is further argued that the applicant has been made as an accused only because of the reason that her name contains the title “Jain” and as such she is being considered as one of the family members of the owners of the Companies and has been made as an accused. It is argued that the allegation against the applicant as per the charge sheet is on page 558 of the paper book in para 16.26 of the charge sheet wherein it is stated that the LC's were essentially accommodative in nature and no materials were purchased against the bills tendered for negotiation under the said LC's. The transport receipt pertaining to the said bills were prepared by the applicant and Smt. Geeta Varshney and no material was found supplied against the said bills. It is argued that thereafter the conclusion was drawn that the investigation could not reveal the authorship of the forged invoices/bills of exchange. While placing page 567 being para 16.40 of the charge sheet, it is argued that even in spite of the fact that the CBI stated that the authorship of the said documents could not be revealed, it concluded that the applicant has admitted having prepared the said transport receipts at the behest of S.K. Jain. Learned counsel for the applicant has argued that the same does not in any manner implicate the applicant in the present case. It is argued that no money was received by the applicant in her bank account. It is further argued that there is no evidence whatsoever to show as to who prepared the said forged bills. The same were signed by the owners of the Company. Learned counsel has further argued while placing annexure no.52 at page 586 of the paper book being a letter dated 4.4.2018 written by the Divisional Manager of the Bank that they have received the money towards fi