1997 (8) TMI 535

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.... ("Enforcement Director" for short) has filed this special leave petition. 3. It is not necessary to set out details of the case, yet we give a brief sketch of it. A fraud costing a whopping sum of ₹ 133 crores was perpetrated by some individuals after hatching a criminal conspiracy. A company by name M/s. National Fertilizers Ltd. entered into a deal with a Turkish company known as M/s. Karsans Inc for the supply of urea worth 38 million US Dollars. The entire amount was paid to the Turkish company through the country's foreign exchange reserve without getting even an ounce of urea in return. It was later discovered that the siphoning of such a huge foreign exchange was the result of a well orchestrated conspiracy hatc....

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....the respondent which was pointed out was "spondylitis". Learned Counsel for the respondent has fairly admitted that, by now, lapse of time and medical care have helped the respondent to get rid of the ailment considerably. So we need not vex our mind whether that was a germane ground to be considered for granting anticipatory bail. 7. Learned Counsel for the Enforcement Director forcefully attacked the reasoning of the learned Single Judge of the High Court and contended that the discretion under Section 438 of the Code was very improperly exercised in this case. Learned Counsel for the respondent on the contrary defended the impugned order. Excerpts from Gurbaksh Singh v. State of Punjab [1980 (2) SCC 563](sic) have been quoted ....

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....atisfy myself whether the apprehension of the petitioner is well-founded or not. Suffice it say that the files which are made available by the Enforcement Directors would disclose an accusing finger against the petitioner. Be it noted that this is not the stage when this Court can apply any test for its acceptability and hence a superficial examination is done. It is also not necessary to see whether this material is sufficient to file a complaint against the petitioner or not. 10. When we perused the records we felt that learned Single Judge has euphemistically stated that the files disclosed "an accusing finger" against the respondent. We, however, refrain from saying anything more at this stage. 11. Learned Single Judge has t....