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TMI Blog2023 (12) TMI 1293X X X X Extracts X X X X X X X X Extracts X X X X ..... 120-B of the IPC. 02. Vide order dated 17.08.2021 passed in M.Cr.C. No.37077/2021, this Court rejected the application filed under Section 439 of Code of Criminal Procedure, 1973 in Crime No.161/2021 and vide M.Cr.C. No.36906/2021, rejected the bail application filed in Crime No.159/2021. Thereafter, this applicant approached the Apex Court by way of SLP (Crl.) Nos.8125/2021 and 8182/2021 and vide order dated 18.11.2022, the Apex Court has granted bail. Thereafter, the Assistant Director, Directorate of Enforcement (ED) Indore has registered a crime No.ECIR/INSZO/42/2022 under Section 45 of Prevention of Money Laundering Act, 2002 (for brevity "PMLA Act") for prosecution under Section 3 and 4 of the PMLA Act. 03. On the basis of three di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tions are fulfilled in addition to the other conditions under Section 438 & 439 of Cr.P.C. It is further submitted that the economic offence comes under the category of heinous offence and cannot be considered as ordinary offence, therefore, even if the bail is granted, regular criminal cases which are registered against the accused but so far as the present criminal case is concerned, it relates to the economic offence which constitutes a class apart and need to visited with a different approach in the matter of bail. It is submitted that unless the Court has satisfied that there are reasonable ground to believe that he is not guilty of such offence and he is not likely to commit such offence while on bail he should not be released on bail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Allahabad bank by Shri Keshav Nachani as personal guarantor, as he and his family members were the directors and shareholders in the company which was availing Loan/ CC Limit, The shareholding pattern and directorship of the close family members of Shri Keshav Nachani and the instance of offering his personal land to the company for taking loan clearly reveals that he was the one who was controlling the day-to-day operations and the entire affairs of the company. The said company after availing the loan of Rs 10 Crores was in operation till 2015- 16, when the outstanding balance loan became NPA. The Allahabad bank enforced the loan recovery proceedings and thus handed over the mortgaged land to an asset restructuring company named as ENCO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Section 438 of CrPC is an extraordinary power and the same has to be exercised sparingly. The privilege of the pre-arrest bail should be granted only in exceptional cases. The judicial discretion conferred upon the court has to be properly exercised after application of mind. Repelling the submission that anticipatory bail is a facet of Article 21 of the Constitution of India and its denial would amount to denial of the right conferred upon under the said Article, the Apex Court stated that "We are conscious of the fact that the legislative intent behind the introduction of Section 438 CrPC is to safeguard the individual's personal liberty and to protect him from the possibility of being humiliated and from being subjected to unnec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are: (i) whether there is any prima facie or reasonable ground to believe that the accused had committed the offence. (ii) nature and gravity of the charge; (iii) severity of the punishment in the event of conviction; (iv) danger of the accused absconding or fleeing, if released on bail; (v) character, behavior, means, position and standing of the accused; (vi) likelihood of the offence being repeated; (vii) reasonable apprehension of the witnesses being tampered with; and (viii) danger, of course, of justice being thwarted by grant of bail. (c) It is also submitted that Hon'ble Apex Court in the matter of Gurcharan Singh VS. State (Delhi Administration) 1978 SCC (Cr) 41, held that while granting bail under Code of Cr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ignored or overlooked and he should be granted anticipatory bail." The first and foremost thing that the court hearing an anticipatory bail and application should consider is the prima facie case put up against the accused, Thereafter, the nature of the offence should be looked into along with the severity of the punishment. In the instant case even though the said applicant was not arrested but that does not mean that the prima facie case against the accused should be ignored or overlooked and he should be granted anticipatory bail. As economic offences constitute a very serious nature of offence and need to be visited with a serious approach in the matter of bail. The economic offences having deep-rooted conspiracies and involving hug ..... X X X X Extracts X X X X X X X X Extracts X X X X
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