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2020 (3) TMI 1370 - HC - Indian LawsSeeking grant of Bail - Rotation of cash-credit funds - diversion of funds for the purchase of immovable assets, interest payments and cash withdrawals - HELD THAT:- It is correct that the applicants were not arrested during investigation, but after the investigation, sufficient material has been collected against them. Now, number of cases are coming before this Court in which the bank officials sanction the loan to business tycoons without verification of the mortgaged property, etc. Without involvement of the bank officials, it is not possible for them to syphon the public money for other purposes. The banks are going into losses and some of the banks have been closed down. In the opinion of this Court, if the applicants are released on bail, a wrong message will go to the public. Since the investigation in other cases is still going on and other accused persons have not been arrested so far, therefore, at this stage, no case for grant of bail is made out. Application dismissed.
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