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2021 (12) TMI 1382 - HC - Indian LawsSeeking grant of Regular Bail - siphoning of funds - benami properties - purchase of land in the name of their employees and agents, who are not actual beneficiaries - HELD THAT:- It is an admitted fact that none of the petitioners herein have been nominated as an accused either by CBI or ED, which agencies are also looking into the scam that has taken place at the behest of Chairman/Directors of the Company - It is also admitted fact that as on date, petitioners are in custody and the matter has already been investigated and the challan stands presented in a magisterial trial and therefore, question of interfering in the investigation by the petitioners would not arise. As far as the question of influencing the witnesses is concerned, it would be worthwhile to note that they would be official witnesses, who would be giving their testimony on the basis of documents already in their possession and therefore, possibility of influencing them is far off. The apprehension raised by counsel appearing for the complainant that the land standing in the name of various persons (benami holders) is being sold, would be protected by the order passed by the Hon’ble Supreme Court on 25.07.2016 wherein there is a restraint order of any sale, transfer, alienation or even creation of third party interest on the land in any manner whatsoever and therefore, it would be open to the complainant to point out any such sale, transfer or alienation taking place to the investigating officer of current FIR. The petitioners are directed to be released on regular bail on execution of personal bonds of ₹ 50,000/- and a surety of like amount in each case by each petitioner to the satisfaction of concerned trial Court/Duty Magistrate - Petition allowed.
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