JUDGMENT :

A.S. Bopanna, J.

Leave granted.

2. The instant appeal has been filed by the appellant assailing the final order dated 15.11.2019 passed by the High Court of Delhi at New Delhi in Bail Application No. 2718 of 2019 whereby the High Court declined to grant regular bail to the appellant.

3. The genesis of the case in question lies in FIR No. RC2202017-E0011 dated 15.5.2017, registered by the CBI under section 120B r/w 420 IPC and sections 8 and 13 (2) r/w 13 (1) (d) of PC Act against some known and unknown suspects with allegations that M/s INX Media Private Limited (accused no. 1 in the FIR) sought approval of Foreign Investment Promotion Board (FIPB) for permission to issue by way of preferential allotment, certain equity and convertible, non-cumulative, redeemable preference shares for engaging in the business of creating, operating, managing and broadcasting of bouquet of television channels. The company had also sought approval to make a downstream financial investment to the extent of 26% of the issued and outstanding equity share capital of M/s INX News Private Limited (accused no. 2). The FIPB Board recommended the proposal of INX Media for consideration and approval of