TaxTMI 
TaxTMI 
2021 (12) TMI 1382
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....rora Samra, Advocate for Mr. KPS Dhillon, Advocate for the petitioner in CRM-M No.26240 of 2021. Ms. Aashna Gill, Advocate for the petitioner in CRM-M No.48818 of 2021. Mr. Kamaldeep Singh Sidhu, Advocate for the petitioner in CRM-M No.23002 of 2021. Ms. Rashmi Attri, AAG, Punjab. Ms. Reeta Kohli, Senior Advocate with Mr. Jashan Singh Sekhon, Advocate, Mr. Gagandeep Singh, Advocate for Mr. A.S. Manaise, Advocate for the complainant(s). Mr. G.S. Nahel, Advocate for PACL. ORDER JAISHREE THAKUR, J. (ORAL) 1. By this common order, this Court proposes to decide 6 petitions that have been filed by the petitioner(s) seeking relief of regular bail to them, who are in custody under FIR No.79 dated 16.07.2020 registered under ....
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....very of their investment. It is in this background that the present FIR came to be registered. On due investigation, the police was able to identify some of the buyers and sellers of the land and some of the persons in whose name land had been bought by the Company. Consequently, they were arrested. It is some of these arrested persons, who are before this Court seeking grant of regular bail. 3. Learned counsel appearing on behalf of the petitioner(s) inter alia would contend that the CBI was already seized of the matter as far as the scam that has been perpetuated by the Company and its Directors and all said Directors already stand booked. It is submitted that the second FIR could not have been registered at the behest of the investors....
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....enami by the agents and small time employees of the Company. It is in this background that the FIR came to be registered and the matter investigated. 6. At this stage, appearance has been caused on behalf of the complainant, who strenuously objects to the bail being allowed to the petitioners herein. It is argued that the small time investors have been duped by the Company in so far as their investment had given them no return. It is submitted that the matter is already pending investigation by CBI and ED and the Lodha Committee is seized of the matter and therefore, this Court ought to restrain its hand in granting regular bail to the petitioners. It is also submitted that though there are 64 persons nominated, only 12 persons have been....
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....from Amrik Singh in the year 2006 and thereafter, had executed GPA in favour of Pardeep Kumar on 13.03.2019 and said Pardeep Kumar had further sold it. In fact, he had sold the land belonging to the Company. (iv) In CRM-M No.19812 of 2021 titled as Ram Pal Vs. State of Punjab, the petitioner is a Lambardar, who allegedly identified legal heirs of one G. Tyagrajan, who died and his legal heirs came in to sell the land and the case set up is that the petitioner herein wrongly identified his legal heirs, who in turn executed a GPA in favour of Amodh Kumar Jha, who sold the land. 8. On thoughtful consideration, this Court deems it appropriate to allow regular bail to the petitioner(s) herein for the following reasons:- (i) ....
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....e offences alleged, if proved, may jeopardize the economy of the country. At the same time, we cannot lose sight of the fact that the investigating agency has already completed investigation and the charge sheet is already filed before the Special Judge, CBI, New Delhi. Therefore, their presence in the custody may not be necessary for further investigation. We are of the view that the appellants are entitled to the grant of bail pending trial on stringent conditions in order to ally the apprehension expressed by CBI." Therefore, this Court has no hesitation in allowing regular bail to the petitioner(s) with a rider that the petitioners herein will not sell any land as reflected in their names in the revenue records. 9. The appre....