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Issues: Whether the petitioner was entitled to regular bail in view of completion of investigation and filing of the challan; whether further custody was necessary having regard to the risk of absconding or tampering with evidence.
Analysis: The allegations related to fraudulent withdrawal of bank funds and forgery, but the investigation had substantially progressed and the challan had already been filed. The petitioner had earlier been granted bail in a connected matter and there was nothing to show misuse of liberty or any attempt to flee from justice. The petitioner was no longer in a position to access the bank records and documents that formed the core evidence, so the apprehension of tampering with evidence was not made out. In bail matters, continued detention after completion of investigation must be justified by concrete necessity, and prolonged pre-trial custody cannot be used as punishment.
Conclusion: The petitioner was held entitled to regular bail.