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Judgment
Heard the parties.
Apprehending their arrest, the petitioners have moved this Court for grant of privilege of anticipatory bail in connection with R.C. case no. 4(S) of 2018-EOW-R registered under Sections 120B, 420, 409 of the Indian Penal Code.
Learned senior counsel appearing for the petitioners submits that the allegations against the petitioner nos. 1 and 2 is that they being the Directors of M/s Femica Press Industries Pvt. Ltd., availed loan from Bank of India and in criminal conspiracy with the co-accused persons, with an intention to cheat the bank in furtherance of their common criminal conspiracy, dishonestly and fraudulently, cancelled the purchase order in respect of which, they availed the loan and falsely informed the Chief Manager of Bank of India that they have made payment to the supplier and the allegation against the petitioner no. 3 is that the petitioner no. 3 being the Director of M/s Pratham Deal Mark Private Ltd. issued a fraudulent quotation in favour of the said of M/s Femica Press Industries Pvt. Ltd. It is next submitted by learned senior counsel for the petitioners, drawing attention of the court to the copy of the letter dated 16.12.2019 issued under the reference no. BOI/TLT/RK/19-20/183 issued by Sr. Manager (Credit) to M/s Femica Press Industries Pvt. Ltd., submits that the bank has certified that out of the settlement amount of Rs. 12.50 crores a sum of Rs. 4 crores has been paid by M/s Femica Press Industries Pvt. Ltd. and the remaining balance is Rs. 8.50 crores plus 1% interest thereon as on 16.12.2019 and petitioners undertake to jointly pay the same to the bank and in this respect, the learned senior counsel draws attention of the court to the copy of the letter of Bank of India at page 64-65(annexure 3) of the brief. It is then submitted that the allegations against the petitioners are all false. It is next submitted that the petitioners are ready and willing to pay Rs. 8,58,50,000/- jointly by way of installments to the bank without prejudice to their defence. It is further submitted by learned senior counsel for the petitioners that the petitioners have all along co-operated with the investigation of the case and hence, the CBI did not feel it necessary to arrest the petitioners, hence, no fruitful purpose would be served, if the privilege of anticipatory bail is given to the petitioners, hence, the petitioners be given the privilege of anticipatory bail.
The learned counsel for the CBI opposes the prayer for anticipatory bail of the petitioners.
Considering the submissions of learned counsels and the facts and circumstances stated above, I am inclined to grant privileges of anticipatory bail to the petitioners. Accordingly, the petitioners are directed to surrender in the Court of learned SDJM-cum-Special Judge, Ranchi within four weeks from today and in the event of their arrest or surrendering, they will be enlarged on bail provisionally for a period of one month from the date of their surrender on jointly depositing a demand draft of Rs. 85,85,000/-drawn in favour of the Bank of India, Telco Branch, Jamshedpur and on furnishing bail bond of Rs.2,00,000/- (Two lakhs) each with two sureties of the like amount each to the satisfaction of learned SDJM-cum-Special Judge, Ranchi in connection with R.C. case no. 4(S) of 2018-EOW-R subject to the conditions as laid down under Section 438(2) of the Code of Criminal Procedure. In case the petitioners jointly deposit another demand draft of Rs. 85,85,000/- with the Bank of India, Telco Branch, Jamshedpur within the period for which the provisional bail is granted, then the provisional bail shall be extended for further one month from the date of their deposit by the trial court. Accordingly, on jointly depositing of each demand draft of Rs. 85,85,000/- drawn in favour of the Bank of India, Telco Branch, Jamshedpur, the provisional bail granted to the petitioners shall be extended for the period of further one month and on the petitioners' depositing the last demand draft of Rs. 85,85,000/-drawn in favour of the Bank of India, Telco Branch, Jamshedpur thereby completing payment of the total amount of Rs. 8,58,50,000/-on or before 29.10.2020, the provisional bail granted to the petitioners shall be confirmed by the trial court till disposal of the case.
It is made clear that in case of failure of the petitioners to deposit any of the installments as mentioned above, the provisional bail granted to the petitioners shall stand cancelled and the trial court will take coercive steps for the arrest of the petitioners for facing the trial.