Different approach needed for bail in financial cases: High Court

Tribune News Service

Saurabh Malik

Chandigarh, January 7

The Punjab and Haryana High Court (HC) has made it clear that the nature of accusations, evidence and severity of punishment were among the factors required to be taken into consideration while granting bail to an accused.

“No doubt, while granting bail, the court has to keep in mind the nature of accusations, the nature of evidence in support thereof, severity of the punishment which conviction will entail, the character of the accused and facts and circumstances of the case,” Justice Namit Kumar of the High Court has asserted.

Character of accused must be kept in mind

No doubt, while granting bail, the court has to keep in mind the nature of accusations, evidence, severity of the punishment which conviction will entail and the character of the accused. —Justice Namit Kumar, High Court

Justice Kumar also made it clear that “reasonable possibility” of securing the presence of the accused during trial, and “reasonable apprehension” of the witnesses being influenced, were among the other factors necessitating consideration.

Justice Kumar was hearing a regular bail petition filed by an accused in a cheating and criminal breach of trust case registered in May last year under Sections 120-B, 406, 420 and 506 of the IPC and the provisions of the Prize Chits and Money Circulation Schemes (Banning) Act.

Justice Kumar’s Bench was told that the FIR was registered after the complainant stated that the accused fraudulently induced him to deposit Rs 12 to Rs 15 lakh by calling him up on a social networking site. For some time the complainant was paid the commission, but later, the payment was stopped and his IDs and accounts blocked.

Among other things, senior advocate RS Rai contended on the petitioner’s behalf that the accused had been falsely implicated during the course of investigation. After hearing rival contentions, Justice Kumar asserted larger state and public interest, along with other similar considerations, were also among the determining factors.

Referring to Supreme Court and High Court judgments, Justice Kumar also observed a different viewpoint with a different approach was required to be taken while considering bail pleas in cases related to economic offences.

Justice Kumar added economic offence, involving deep-rooted conspiracies, and a huge loss to public funds, was required to be taken seriously. It was required to be considered a “grave offence affecting the “economy of the country as a whole”, thereby posing serious threat to her financial health, Justice Kumar said.

Granting bail to the accused after taking into consideration factors such as submission of challan and his being in custody since June 29 last year, Justice Kumar asserted reasonable conditions could be incorporated in exercise of judicial discretion with the aim of securing his presence at the time of trial/hearing before the trial court.

In a related case, Justice Kumar dismissed the bail plea of another accused after observing that the allegations against him were direct and serious. He allegedly converted approximately Rs 156 crore of defrauded amount into “USDT coins” through various accounts.

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