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2018 (9) TMI 2053 - HC - Indian LawsGrant of regular bail - vicariously liability on petitioner - non-payment of amount to the complainant party - criminal liability can be fastened upon the petitioner or not - allegations of cheating and misappropriation of amount - period of custody undergone by the petitioner is less or what? - HELD THAT:- In case, there is a delay in the trial, the bail should be granted to the accused. The Court, while granting bail, is to consider the circumstances, the factors such as the nature of accusation and severity of punishment in case of conviction and the nature of supporting evidence; reasonable apprehension of tampering with the witness or apprehension of threat to the complainant and prima facie satisfaction of the court in support of the charge are to be taken into consideration. It has also been held in various judgment of Hon'ble the Apex Court as well as of this Court that criminal prosecution is not a proceeding for recovery of the dues of the investors but is meant for punishing the guilty. In case of economic offences, the object of criminal prosecution is to protect the investors and help them in recovery of the money. It can be a presumption but the detention of accused in the jail would not aid the recovery. It has also been held that the purpose is not to recover the amount but to punish the accused persons. The offence is triable by Magistrate; the custody which is more than 11 months; even a single witness has not been examined; the delay is there on the part of the complainant himself as alternative remedy has already been availed and no useful purpose would be served by keeping the petitioner in custody - Giri Raj is directed to be released on regular bail on his furnishing bail/surety bonds to the satisfaction of the trial Court - Petition allowed.
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