TMI Blog1993 (1) TMI 307X X X X Extracts X X X X X X X X Extracts X X X X ..... Apten Marketing and Management Services (P) Ltd. and K. Jayakar in order to earn ill-gotten money in the form of commission from various multi-nationals in connection with the transactions held by these multi-nationals with the companies under the control and influence of V. Krishnamurthy in his capacity as a public servant. In pursuance of the said object Binoy Jacob and K. Jayakar Along with Prem Kumar set up a company on 6/07/1982 with the following shares : 1. Binoy Jacob 501 shares2. K. Jayakar 401 shares3. S. Prem Kumar 001 shares (3) V. Krishnamurthy while functioning as public servant participated in the management of M/s. Apten Marketing and Management Service (P)Ltd. through his son Jayakar. V. Krishnamurthy became Chairman of M. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Binoy Jacob and K. Chandra. M/s. Link Universe Company collected over 10 millions Us dollars from 1985 to 1990and most of the money received by M/s. Link Universe Company by way ofcommission, which M/s. Apten would have otherwise received in India, was deposited in Union Bank of Switzerland Account No. 709475, which had in balance Us dollars 56.76,517.24 as on 27/05/1988. This company has two other numbered accounts also in the Switzerland viz. 675-701 and706-350. Some portion of the money collected by way of commission was utilised in securing further business through other public servants by corrupt and illegal means. On 27/10/1988 M/s. Link Universe Company received Yen 126 millions as V.K. Profit and on the next day Us dollars0.4 mi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pearing for the petitioner, vehemently contends.that out of the companies mentioned in the F.I.R. the involvement of the petitioner is alleged to be in relation to only two companies, namely, M/s. Apten and M/s.Link Universe. Counsel submits that as per F.I.R. the petitioner has nothing vto do with other companies mentioned in the F.I.R., namely, M/s. International Engineering and M/s. Ergodyne's with which the two sons of V.Krishnamurthy are alleged to be linked with. It is also urged that the petitioner has no nexus with M/s. Link Universe. Counsel contends that according to F.I.R. the main allegations are against Krishnamurthy and his two sons and the sole allegation against the petitioner is under Section 120B, IPC of conspiracy in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as detailed in the F.I.R. and the offence of which the petitioner is accused is grave and the petitioner is likely to tamper with evidence. Refuting the contentions put forth on behalf of the petitioner Mr. Lal submits that it is not a fit case for grant of bail. Learned Counsel further contends that it is the discretion of the investigating agency as to which accused is to be arrested and at what stage and the petitioner may not be admitted to bail simply because other accused have not been arrested. (8) There is no hard and fast rules regarding grant or refusal to grantbail. Each case has to be considered on its own merits. (9) There is no doubt that the investigating agency in its discretion has to decide as to which accused is to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... F.I.R. in question. It is not disputed by C.B.I, that the passport of Binoy Jacob is also with it. The question is not about -arrest or non-arrest of Krishnamurthy or his sons but,prima fade, one does get an impression that the C.B.T.. a prime investigating agency of the country, is treating Binoy Jacob differently. As noticed above as per F.I.R., in International Engineering and M/s. Ergodyne's account two sons of V. Krishnamurthy were having shareholding interests but it does not talk of Binoy Jacob having interest in the said two companies. (10) Binoy Jacob was arrested on 2/12/1992. Admittedly.if the chargesheet is not filed within the outer limit provided by proviso (a) to Section 167(2) of the Code of Criminal Procedure, the ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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