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Issues: Whether regular bail should be granted under Section 439 of the Code of Criminal Procedure, 1973 in view of the alleged offences, the stage of investigation, the delay in lodging the FIR, and the absence of criminal antecedents.
Analysis: The applicant was in custody since 18.08.2020, the investigation was still pending, and the charge-sheet had not been filed. The Court also noted the apparent delay in lodging the FIR, the earlier notice issued by the bank, and that no prima facie criminal antecedents were pointed out. Without entering into the merits, the Court held that the circumstances justified exercise of discretion in favour of bail.
Conclusion: Regular bail was granted to the applicant.
Ratio Decidendi: Bail under Section 439 of the Code of Criminal Procedure, 1973 may be granted where investigation is incomplete, the accused has no apparent antecedents, and the surrounding circumstances justify exercise of judicial discretion in favour of liberty.