Abhay Srivastava vs State Of Uttarakhand

Ravindra Maithani, J

Applicant is in judicial custody in FIR No.14 of 2020, under Section 420 IPC (after investigation, Sections 406, 409 and Section 3 of the Uttrakhand

Protection of Interests of Depositors (In Financial Establishment) Act, 2005 has been added), Police Station Kotwali Pithoragarh, District Pithoragarh.

He has sought his release on bail.

Heard learned counsel for the parties and perused the record.

The informant was associated with one finance company; 250 people had deposited Rs.26 lakhs in the company, but subsequently, the company did

not respond to release any amount; the applicant is stated to be the Managing Director of the Company.

Learned counsel for the applicant would submit that applicant is in custody since 28.10.2020; there are total 29 witnesses; out of which, 14

witnesses have been examined. The applicant has not taken any adjournment.

Learned State Counsel admits the factual aspects that the applicant is custody since 28.10.2020.

While considering the bail application, various factors are to be taken into consideration. In fact, right to life and liberty includes within its ambit right

to fair and speedy trial. A trial may not be kept pending indefinitely, particularly, in such case when the accused is in custody. The applicant is awaiting

conclusion of his trial for more than four years in custody now. It is admitted that the witnesses of fact have already been examined. It commands this

Court to grant the applicant bail.

Having considered, this Court is of the view that it is a case fit for bail and the applicant deserves to be enlarged on bail.

The bail application is allowed.

Let the applicant be released on bail, on his executing a personal bond and furnishing two reliable sureties, each of the like amount, to the

satisfaction of the court concerned.