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Issues: Whether the petitioners were entitled to regular bail under Section 439 of the Code of Criminal Procedure, 1973 in view of the prolonged custody, completion of investigation, and the nature of the evidence.
Analysis: The petitions arose from the same FIR and were considered together. The allegations related to a serious economic offence involving forged documents and loss to the State exchequer, but investigation had been completed and challan as well as supplementary challans had been filed. The Court noted that the petitioners had remained in custody for several months, were not required for further investigation, and that the case was based primarily on documentary material. The Court further held that indefinite pre-trial detention would offend the right to speedy trial and personal liberty protected by Article 21 of the Constitution of India. The apprehension of tampering with evidence was not found sufficient to deny bail in the circumstances.
Conclusion: The petitioners were entitled to bail pending trial, and their release on stringent conditions was ordered.
Ratio Decidendi: Where investigation is complete, the prosecution case rests mainly on documents, and continued custody would amount to prolonged pre-trial incarceration, bail may be granted to protect the accused's right to speedy trial and personal liberty.