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TMI Blog2016 (9) TMI 1477X X X X Extracts X X X X X X X X Extracts X X X X ..... in the case of Subrata Chattoraj vs. Union of India reported in (2014) 8 SCC 768. The Supreme Court directed C.B.I to take over the investigation of the Ponzi scheme which had spread its tentacles in various States of India. While issuing this direction the court observed that the Scam of this magnitude was going on unnoticed and unchecked for years which showed a deep rooted criminal neglect and apathy on the part of the regulators. The conspiracy among those promoting the companies that flourished at the cost of the common man and those who were supposed to prevent such fraud required a comprehensive investigation. The ramifications of the schemes in the States of Assam, Tripura and Orissa were directed to be investigated. While complyin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y at every stage, (ii) there is no material found against her which would lead to her conviction ultimately, (iii) the charge-sheet against the petitioner has already been filed and therefore no useful purpose would be served by continuing her detention, (iv) 13 accused have already been granted bail and (v) the petitioner being a woman is entitled to relief in view of the proviso to s. 437 of the Cr.P.C. The learned Counsel submits that she as a Director of the company known as GNN India Private Limited entered into an agreement with Sudipta Sen, the Director of Bengal Media who desired to acquire 50% of the shareholding of GNN. This was a business decision that both of them took. He submits that the clauses in the agreement would indicate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submits that the conspiracy between the prime accused and Manoranjana Sinh, the petitioner herein, is writ large. The investigations in this case are in progress with respect to the North-Eastern Region of India. He further submits that the Petitioner being an influential person is likely to interfere with the same and therefore the application for bail should be rejected. After perusing the agreement and the other documents on which the charge sheet is based as well as certain Emails exchanged between the prime accused and the petitioner, prima facie, it appears that the petitioner was involved as a conspirator. Therefore, we are not inclined to grant bail. Mr. Ganguly then submitted that since the petitioner is a woman, she would be ent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt hospitals, continuously, from 11th September, 2015 till today. We are surprised that the C.B.I conceded to her continuation in hospital for such a prolonged period of time. There is no doubt that the petitioner has been able to wield a considerable influence and ensure that she continues to be hospitalized till today. She has been interrogated in hospital on 29th December, 2015 and 20th June, 2016. However she has been successful in avoiding being incarcerated in a correctional home. We accept the submission of the C.B.I that the alleged conspiracy between petitioner and other accused in this case is being investigated with respect to the State of Assam. We have been shown the material indicating that such investigation is in progress. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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