TMI Blog2016 (8) TMI 1539X X X X Extracts X X X X X X X X Extracts X X X X ..... punishable for a term of imprisonment of more than three years under Part A of the Schedule shall be released on bail or on his own bond unless Public Prosecutor has been given an opportunity to oppose the application for such release and where the Public Prosecutor opposes the application, the Court is satisfied that there are reasonable grounds for believing that he is not guilty of such offenc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... position and thereby fraudulently and dishonestly caused wrongful loss to the Dena Bank and corresponding gain to him and thereby accumulated movables and immovables in his own name and the family members from the crime proceeds. Heard Sri P. Chakravarty, learned counsel for the applicant Sri Shiv P. Shukla learned counsel appearing for the Union of India and perused the record. Learned cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plicant had taken a personal loan of ₹ 2.5 Lakhs on 31.3.2005 from M/S Prince International for purchase of a property Plot No. 6/69, Sector 6, Gomtinagar, Lucknow and repaid the said loan in four installments. Similarly he had taken a personal loan of ₹ 7 Lakhs from M/s KASS, a partnership Firm of Subhas Chandra Verma and other accused persons of CBI charge sheet and has returned the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ences constitute a class apart and need to be dealt with different approach in the matter of bail. Learned counsel further submits that economic offences having deep rooted conspiracies and involving loss of public funds, therefore, needs to be seriously viewed and considered as a grave offence affect the economy of the country , therefore, posing serious threat to the financial health of the coun ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot guilty of such offence and that he is not likely to commit any offence while on bail. After having heard the respective submissions of learned counsel of both parties and keeping in view the facts and circumstances of the case, I find that enlarging applicant on bail would not be in the interest of justice, therefore, the bail application is rejected. However, trial court is directed to c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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