Criminal Procedure Code, 1973
Section 439—Regular bail—Cheating case—FIR registered under Sections 406/420/120B/174A of IPC—Allegation of defrauding public by collecting funds on the pretext of money back schemes and lucrative interest—Alleged offence committed by one financial company which had connection with another company of which applicant was one of authorized signatories of the bank account—Applicant has not been named in the FIR—Role of the applicant is not clear, as there are no transactions involving him which have been brought on record—Alleged nexus between two companies is yet to be established, which, no doubt, being a matter of trial, is expected to take time—Charge sheet has already been filed but charges are yet to be framed and in all likelihood, the trial in the matter is going to take long, during which there is no occasion for the applicant to keep languishing behind bars—Keeping the applicant behind bars for the prolonged period of trial would serve no purpose especially in view of the such facts and as he is yet to be proven guilty—Investigation and examination of witnesses are underway—Applicant has a clean and unblemished/ satisfactory record, while being inside the jail—Bail granted.
[Paras 7 to 9]