TMI Blog2021 (12) TMI 1382X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his Court proposes to decide 6 petitions that have been filed by the petitioner(s) seeking relief of regular bail to them, who are in custody under FIR No.79 dated 16.07.2020 registered under Sections 406, 420, 467, 468, 471 and 120-B IPC at Police Station City Zira, Firozepur. While deciding these regular bail petitions, it would be apt to note few facts:- 2. PACL Ltd. (hereinafter referred to as the company) was a company, which induced small investors to invest in the company and with the investments they received, they would buy land in the name of the company and would offer substantial returns to the investors. Over a period of time, Directors of the Company, while receiving funds instead of buying the land in the name of the Compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been perpetuated by the Company and its Directors and all said Directors already stand booked. It is submitted that the second FIR could not have been registered at the behest of the investors in Punjab consequent to which an investigation was done and the petitioners herein arrested. 4. It is argued that the petitioners herein, who are either drivers, peons or agents of the Company, are not actual beneficiaries of any land sold since family members of the Directors were present and they took sale proceeds immediately. It is also argued that since challan stands presented in a Magisterial trial, all documents as required, are already in possession of the police, their custody would no longer be required. It is also argued that witnesses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ter and therefore, this Court ought to restrain its hand in granting regular bail to the petitioners. It is also submitted that though there are 64 persons nominated, only 12 persons have been arrested so far. 7. I have heard learned counsel for the parties and perused the paper book as well as the case laws cited. The gist of the allegations in the FIR and the role of the petitioners is set out as under:- (i) In CRM-M No.47255 of 2021 titled as Kulwinder Singh Vs. State of Punjab and CRM-M No.48818 of 2021 titled as Kashmir Singh Vs. State of Punjab, role attributed to the petitioners is that they were drivers of one of the Directors of the Company namely Nirmal Singh Bhangu, Chairman of PACL and they sold the land standing on their ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the land. 8. On thoughtful consideration, this Court deems it appropriate to allow regular bail to the petitioner(s) herein for the following reasons:- (i) 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. (ii) 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 wor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner(s) with a rider that the petitioners herein will not sell any land as reflected in their names in the revenue records. 9. 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. However, such information must be genuine. It is also worthwhile to mention here ..... X X X X Extracts X X X X X X X X Extracts X X X X
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