2025 (10) TMI 511

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.... Petitioner(s) Mr. N Venkataraman, A.S.G. (N.P.), Ms. Nisha Bagchi, Sr. Adv., Ms. Neelakshi Bhadauria, Adv., Mr. P.V. Yogeswaran, Adv., Mr. Rajan Kr. Chourasia, Adv., Mr. Gurmeet Singh Makker, AOR. For the Respondent(s) Mr. Pradeep Rai, Sr. Adv., Ms. Farhat Naim, Adv., Ms. Modoyia Kayina, Adv., Mr. Paras Chauhan, Adv., Mr. Vinay Kumar Rai, Adv., Mrs. Rajshree Rai, Adv., Mr. Shreyansh Singh, Adv....

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....10 Crore and an indemnity bond of Rs. 100 Crore with one solvent security of the like amount. 5. On petitions filed by both the parties under Section 482 of the Code of Criminal Procedure, 1973 before the High Court, the petition of the appellant-Union of India was dismissed and that of respondent partly allowed, thereby waiving the condition of furnishing bank guarantee and reducing the indemn....

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....d would be of no use by the end of the trial which is likely to consume sufficient time. 9. Thus, in the facts and circumstances of the case, we are of the opinion that there is no illegality on part of either of the Courts below in directing for the release of the vessel subject to appropriate conditions. 10. The only question that remains before us is on what terms and conditions, the vess....

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.... upon the Insurance Declaration, the value of the vessel had been assessed as Rs. 100 Crore and since there is no contrary material on valuation of the vessel, we do not find any justification for the High Court to have reduced the amount of the indemnity to Rs. 75 Crore. 15. Accordingly, we are of the opinion that for the purposes of release of the vehicle, the respondent ought to furnish inde....