Pre-trial bail in economic offences depends on flight risk and tampering risk, not punishment before conviction.

Pre-trial bail under Section 439 CrPC in an economic offence was considered in light of the settled principle that detention before conviction is not punitive and must be justified by necessity. The investigation had been completed, the charge-sheet filed, and there was no material showing that the accused was a flight risk or likely to tamper with evidence or influence witnesses. The court therefore held that the offence, by itself, was not enough to deny bail and allowed release on stringent conditions, including bond, sureties, court appearance, non-interference with witnesses, and surrender of passport.

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Issues: Whether the applicant was entitled to bail under Section 439 of the Code of Criminal Procedure, 1973 in a case involving an economic offence after completion of investigation and filing of the charge-sheet.

Analysis: Bail is intended to secure the accused's appearance at trial and not to punish before conviction. Pre-trial detention is justified only where it is necessary to secure attendance or where material shows a real risk of tampering with evidence or witnesses. The investigation had been completed, the charge-sheet had been filed, and there was no material to suggest that the applicant was a flight risk or likely to interfere with the evidence. The period already spent in custody was also taken into account, and the alleged economic offence by itself was not treated as sufficient to deny bail in the absence of further necessity.

Conclusion: The applicant was entitled to bail pending trial on stringent conditions, including execution of bond, sureties, non-interference with witnesses, appearance before court, and surrender of passport.

Ratio Decidendi: Pre-trial incarceration should not be ordered unless it is necessary to secure attendance at trial or there is material showing a likelihood of tampering with evidence or witnesses.

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