ORDER

This is an application for regular bail.

2. The petitioner is the 2nd accused in O.R.No.41 of 2021 registered by the Directorate of Revenue Intelligence, Cochin. The allegation against the petitioner is that the petitioner was found in possession of 1493.30 grams of gold in lumps having a market value of Rs.72.64 lakhs and also in possession of Indian currency notes, having a total value of about Rs.61.53 lakhs.

3. The learned counsel for the petitioner submits that in respect of an offence under Section 135 of Customs Act, unless the quantity of contraband exceeds the value of Rs.1 crore, the offence is bailable and refers in this regard to the provisions of Section 104(6)(c) of the Customs Act. It is submitted that even if the entire allegations are accepted to be true, the total value of contraband gold seized from the petitioner is only Rs.72.64 lakhs. Lastly, it is pointed out that the petitioner has been in custody from 04.12.2021 and his continued detention is not necessary for the purpose of any investigation.

4. The learned counsel appearing for the Directorate of Revenue Intelligence would submit that the contention of the petitioner is that he is accused only of a bailable offence cannot be accepted, as it is clear that the value of the currency seized from the petitioner has also to be factored, as the petitioner in his statement under Section 108 of the Customs Act has revealed that the amount of cash recovered from him were amounts received by him from the sale of illegally imported gold. It is submitted that the offence committed by the petitioner is very serious and that the smuggling of gold has become rampant. It is submitted that such offences challenge the economic independence of the country and should not be viewed lightly.

5. Having regard to the facts and circumstances of the case and without going into the question as to whether the petitioner is accused only of a bailable offence or a non-bailable offence and considering the fact that the petitioner has been in custody from 04.12.2021, I am of the opinion that the petitioner can be granted bail subject to stringent conditions, as his custody is not required for investigation.

6. In the result, this bail application is allowed and it is directed that the petitioner shall be released on bail subject to the following conditions:

(1) The petitioner shall execute bond for a sum of Rs.50,000/- (Rupees fifty thousand only) with two solvent sureties for the like sum to the satisfaction of the Jurisdictional Court;

(2) Petitioner shall appear before the investigating officer in O.R.No.41 of 2021 of Directorate of Revenue Intelligence, Cochin, on the 1st and 4th Monday's of every month for the period upto 31.03.2022. However, in the month of January 2022, the petitioner shall appear before the investigating officer on 24.01.2022 and on 31.01.2022. Thereafter, the petitioner shall appear before the investigating officer as and when called upon to do so.

(3) The petitioner shall not attempt to interfere with the investigation or to influence or intimidate any witness in O.R.No.41 of 2021 of Directorate of Revenue Intelligence, Cochin;

(4) The petitioner shall surrender his passport before the Jurisdictional Magistrate. If he does not have a passport, an affidavit shall be executed to that effect and the same shall be filed before the said court within seven days of release on bail;

(5) The petitioner shall not involve in any other crime while on bail.

If any of the aforesaid conditions are violated, the investigating officer in O.R.No.41 of 2021 of Directorate of Revenue Intelligence, Cochin, may file an application before the Jurisdictional Court for cancellation of bail.