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Issues: Whether the applicants were entitled to bail in a case involving allegations of cheating, forgery and conspiracy, where the prosecution material mainly comprised statements of co-accused and the charge-sheet had already been filed.
Analysis: The applicants were not named in the FIR, and the prosecution sought to connect them chiefly through statements of co-accused. The Court noted the rival positions on the evidentiary value of such statements at the bail stage, including the distinction between witness statements and statements attributable to an accused. The Court also took note that the charge-sheet had been filed and assessed the nature of the offence, the material collected, the alleged complicity, the severity of punishment, and the overall circumstances bearing on bail.
Conclusion: The applicants were held entitled to bail and their applications were allowed.