Anand Jain v. State Rep By
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 20.01.2022
CORAM:
THE HON'BLE MRS.JUSTICE T.V.THAMILSELVI Crl.O.P.No.13796 of 2021 Anand Jain .. Petitioner Vs.
State represented by Superintendent of Police, CBI, Anti-Corruption Branch, 'A' Win, 3rd Floor, Shashtri Bhavan No.26, Haddows Road, Chennai- 600 006.
Crime No.RC0322021A007 of 2021 ... Respondent Prayer: Criminal Original Petition filed under Section 438 of Cr.P.C., praying to enlarge the petitioner on bail in the event of his arrest by the respondent police in Cr.No.RC0322021A007 of 2021 on the file of the respondent police.
For Petitioner : Mr.Rahul Balaji For Respondent : Mr.K.Srinivasan Special PP for CBI Cases
ORDER
(This case has been heard through video conference) The petitioner, who apprehends arrest at the hands of the respondent police for the alleged offences punishable under Sections 120B & Section 420 of IPC and Section 13(2) r/w. Section 13(1(d) of the Prevention of Corruption Act, in Crime Number RC0322021A007 of 2021, on the file of the respondent police, seeks anticipatory bail.
2. The case of the prosecution is that Hallmark Infrastructure Private Limited (A1) availed loan facilities viz., (1) Loan against Property(Reducible OD), (2) Project Term Loan and (3) Loan against Property which was sanctioned by the BANK OF INDIA (defacto complainant herein) in the year 2013. It is further alleged that A1 had diverted the funds to some other firm and allegedly violated the sanction terms and thereby allegedly cheated the bank. Hence, the defacto complainant lodged a complaint against the petitioner.
3. The learned counsel appearing for the petitioner submits that the petitioner is an innocent person and he has not committed any offence as alleged by the prosecution. He further submits that this matter is pending before the NCLT proceedings in CP/120B/IB/2018. Hence, he prays for grant of anticipatory bail to the petitioner.
4. The learned Special Public Prosecutor submits that in the account of the petitioner's firm, the scheduled mentioned properties (totally 5 property) was brought for sale through SARFAESI E-Auction on 13.10.2021. He further submits that during the said e-auction there were no bidders for Property Nos. 1 to 4 whereas Property No.5 was sold for Rs.3,02,08,000 and as per the contention of the bank mere about Rs.11 crores was due. Hence, he opposed for grant of anticipatory bail to the petitioner.
5. Considering the fact that the loan was borrowed by the petitioner by indemnifying his property as security which is sufficient for the loan recovery and also considering that if he is released on bail, he will not tamper the evidence, this Court is inclined to grant anticipatory bail to the petitioner. 6.Accordingly, the petitioner is ordered to be released on bail in the event of arrest or on his appearance, within a period of fifteen (15) days after lifting of lockdown or the commencement of the Court's normal functioning whichever is earlier, before the learned XI Addl Special Court for CBI Cases, Chennai on condition that the petitioner shall execute a bond for a sum of Rs.10,000/- (Rupees Ten Thousand Only), with two sureties each for a like sum to the satisfaction of the respondent police or the police officer who intends to arrest or to the satisfaction of the learned Magistrate concerned and on further condition that:
[a] the petitioner and the sureties shall affix their photographs and left thumb impression in the surety bond and the Court concerned may obtain a copy of their Aadhar card or Bank pass Book to ensure their identity;
[b] the petitioner shall report before the respondent police as and when required for interrogation;
[c] the petitioner shall not tamper with evidence or witness either during investigation or trial;
[d] the petitioner shall not abscond either during investigation or trial;
[e] on breach of any of the aforesaid conditions, the learned Magistrate/ Trial Court is entitled to take appropriate action against the petitioner in accordance with law as if the conditions has been
imposed and the petitioner is released on bail by the learned Magistrate/Trial Court himself as laid down by the Hon'ble Supreme Court in P.K.Shaji Vs. State of Kerala [(2005) AIR SCW 5560]; and; [f] if the accused thereafter absconds, a fresh FIR can be registered under Section 229-A IPC;
-sd/- 20/01/2022 This order, on being produced, be punctually observed and carried into execution by all concerned TRUE COPY Sub-Assistant Registrar (Statistics/C.S.) High Court, Madras - 600 104.
TO 1 THE XI ADDITIONAL SPECIAL COURT FOR CBI CASES, CHENNAI.
2 THE SUPERINTENDENT OF POLICE, CBI, ANTI CORRUPTION BRANCH, A WING, 3RD FLOOR, SHAHSTRI BHAVAN, NO.26, HADDOWS ROAD, CHENNAI-600 006 3 THE SPECIAL PUBLIC PROSECUTOR, HIGH COURT, MADRAS.
+2CC to M/S.RAHUL BALAJI Advocate on payment of necessary charges SR.No.884 CRL OP.13796/2021 Date :20/01/2022 CSK 28/01/2022