TaxTMI 
TaxTMI 
2019 (9) TMI 1617
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....c. Application No. 8438 of 2019, after filing of the chargesheet by the Investigating Agency. This Court on 18.06.2019 granted the interim bail in favour of the applicant for a period of three months, which expired on 18.09.2019 and the same has been extended by this Court till today. 3. By way of this application, the applicant who is arraigned as an accused for the aforementioned case has urged this Court to grant regular bail instead of interim bail, which had been granted by the Court for the period of three months, with a request that the investigation has been substantially accomplished. There will be no requirement for any apprehension on the part of the investigating agency. It is also his case that in the State of Gujarat, there i....
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....oral evidence to specify these aspects. The business affairs of the company from 2006 to 2018 is under investigation and the C.B.I. has found the disclosure of the false Stock & Book Debt Statements, for which the chargesheet has already been filed. It was on the basis of such version, the bank had sanctioned the increased working capital facility and additional term loan facility from time to time and not for the regularization of the existing credit facilities of the company. The business affairs of the company since are still under investigation, it has urged the Court not to grant the regular bail as prayed for. It is the further the say of the respondent C. B.I., that Resolution Professional (RP) if appointed, it is between the Resolut....
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.... a regular bail to the present applicant, who have all throughout cooperated with the investigating agency. Not only the investigating agency, but also before the NCLT, Ahmedabad, total cooperation and support has been extended to enable the Resolution Professional (RP) to carry out its work for fetching such an amount, which would be helpful and satiate outstanding debt of the company. According to the learned advocate, participation of this applicant in Insolvency Application / Proceedings also would be crucial and further investigation may take a long time, therefore, the applicant may be released on regular bail. 7.1. He has also urged that, no objection has been raised against the appointment of Resolution Professional (RP) and the re....
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....ken into consideration the chronology of events into account, papers of investigation and also case diary presented by the Investigating Officer, is inclined to consider the extension of interim bail rather than grant of regular bail. It has also noted that there had been no untoward incident nor any complaint noticed while the applicant was on interim bail for 3 months from the inputs given by the learned Special Public Prosecutor, on instructions of the Investigating Officer, present before this Court. This Court while granting interim bail on the last occasion has given elaborate reasons for grant of interim bail, which are not to be reiterated and to be construed as the part of this order. Reference is necessary of one of the grounds se....
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.... the present applicant is extended for further period of 4 (four) months. This Court has taken note of the fact that the further investigation is goingon and also from the perusal of the case diary noticed the crucial material which is being collected by the Investigating Officer, and therefore, at this stage, the grant of regular bail is not found desirable. 13. All the conditions which have been earlier imposed vide order dated 18.06.2019 in Criminal Misc. Application No. 8438 of 2019 shall continue to govern the liberty of the petitioner. 14. For the foregoing reasons, interim bail of the the present applicant is extended for further period of 4 (four) months in connection with R.C.No.RC0292018A0006 dated 26.03.2018 registered with CBI....
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....nt Directorate or at any other judicial forum in relation to this matter. [g] shall not contact any of the witnesses who are already forming the part of the papers of chargesheet and/or any of the Bank officials from the consortium of the Banks since the CBI is still investigating further; [h] any attempt on his part to so do it if is noticed, it will be open for the Investigating Agency to bring to the notice of this Court for the purpose of cancelling the bail. [I] any indulgence in any other offence will also make them liable to be incarcerated once again even during the pendency of the trial; [j] furnish the address of his residence to the Investigating Agency and also to the C.B.I. Court at the time of execution of the bond and....