Sunil Gupta And Anr vs State Of Himachal Pradesh

Satyen Vaidya, J

Petitioner has prayed for grant of pre-arrest bail in case FIR No. 416/2020, dated 28.11.2020, registered under Sections 420, 467, 468 and 471 of IPC, at Police Station, Balh, District Mandi, H.P. Petitioner was admitted to interim bail on 12.12.2022, where after he has joined the investigation.

The case has been registered at the instance of the Manager, State Bank of India, Ner-Chowk, Tehsil Balh, District Mandi, H.P. The allegations levelled against the petitioner are that he had obtained multiple loans by forged and fraudulent means. As per complainant, petitioner while obtaining loan had not placed on record the correct information and rather, had given information which was not correct.

The investigation is continuing. As noticed above, petitioner has been joining the investigation. On 26.12.2022, petitioner had placed on record certain documents issued by the State Bank of India, according to which, a payment of more than Rs. 3.00 Crores had been shown to have been deposited by the petitioner with the Bank on 31. 03.2022. The Investigating Officer of the case was handed over copies of the documents for verification. The Investigating Officer is present in the Court today and has submitted that the information supplied by the petitioner, though, was correct, but the amount which he deposited pertains to some other loan account.

The prayer for bail has been opposed on the ground that the petitioner is a clever person and if released on bail, will hamper the course of fair investigation. It is also contended on behalf of the respondent that huge amount of money is still required to be recovered by the Bank from the petitioner and he deserves no leniency.

On the other hand, learned counsel for the petitioner has submitted that the petitioner is making every endeavour to clear the loan accounts. As far as disputed questions are concerned, the matter inter se petitioner and Bank is pending adjudication before Debt Recovery Tribunal, Chandigarh. He has further submitted that the petitioner will be depositing the amount with the Bank in due course which will be found legitimately due from him.

I have heard learned counsel for the petitioner as well as learned Additional Advocate General and have gone through the status report.

The fact that the petitioner has already deposited a sum of Rs. 3.32 Crores with the Bank on 31.03.2022 prima facie reveals his bonafides. The allegations with respect to presentation of forged and fraudulent documents by the petitioner with the Bank are the subject of investigation which may take considerably long time before completion. From the status report, it is also revealed that probably some of the Bank officers/officials may also be hand in glove with the petitioner. Till date, no such officers/officials has been implicated as the necessary permission under the provisions of Prevention of Corruption Act is stated to be still awaited.

It has been contended on behalf of the respondent-State that still the petitioner owes about Rs. 1.5 Crores to the Bank, whereas it has been submitted on behalf for the petitioner that a sum of Rs. 60 lacs is repayable now by him. Be that as it may, the Bank has sufficient means to recover the amount from its defaulters/customers.

Petitioner is permanent resident of House No. 139/9, Bhojpur, Tehsil Sundernagar, District Mandi, HP and there is no likelihood of his absconding or fleeing from the course of justice. The apprehension raised on behalf of the respondent that the fair investigation may be affected by release of petitioner on bail can be taken care of by imposing appropriate conditions against the petitioner. It is more than settled that the bail proceedings cannot be converted into recovery proceedings. Ultimately if crime is proved against petitioner, he will face the legal consequences, but at this stage without proof of the allegations against petitioner, his pre trial incarceration, will not be warranted, especially, keeping in view the facts and circumstances of the case.

Keeping in view the entirety of facts and circumstances of the case, the instant petition is allowed and petitioner is ordered to be released on bail, in the event of his arrest in case FIR No. 416/2020, dated 28.11.2020, registered under Sections 420, 467, 468 and 471 of IPC, at Police Station, Balh, District Mandi, H.P.on his furnishing personal bond in the sum of Rs. 1,00,000/- with one surety in the like amount to the satisfaction of learned Investigating Officer/ Arresting Officer. This order shall, however, be subject to the following conditions:-

i) That the petitioner shall continue to join investigation as and when required.

ii) That the petitioner shall not directly or indirectly make any inducement, threat or promise to any person acquainted with the facts of the case so as to dissuade him from disclosing such facts to the Court or to the Police.

iii) That the petitioner shall not in any manner tamper with the prosecution evidence.

iv) That any indulgence of petitioner in criminal activities during the continuance of this order shall entail cancellation of the bail granted to the petitioner.

v) That the petitioner shall not leave India till conclusion of trial without permission of the learned trial Court.

Any expression of opinion herein-above shall have no bearing on the merits of the case and shall be deemed only for the purpose of disposal of this petition.