D.K. Shimla vs Central Bureau of Investigation

Tarun Agarwala, J.—Heard Mr. R.P. Nautiyal, the learned Counsel assisted by Mr. L.K. Tiwari, and Mr. Shailendra Nauriyal, Advocates for the applicant and Shri Arvind Vashistha, the learned Counsel for the Respondent.

It is alleged that a cash credit limit of Rs. 50 lacs was taken by the company in which the Directors were D.P. Raturi and Smt. Kavita Raturi. The said company failed to repay the cash credit limit to its bank. The applicant is alleged to be instrumental in settling the outstanding dues of the company and paid certain amount to the company by cheques. It is alleged that these cheques were in lieu of a sale to be made in his favour of the land pertaining to the company. Certain amounts alleged to have been transferred in the account of the applicant which the investigation agency alleges it to be a fraudulent transfer. The fact remains that the applicant was not part of the fraud committed by the promoters of the company with regard to the cash credit limit obtained by the company from its banker. It is also stated that the applicant was not arrested during the investigation and was only arrested when he appeared on the date when the chargesheet was framed.

In the light of the aforesaid, without commenting anything further on the merit of the case, the court is of the opinion that the applicant is entitled to be enlarged on bail at this stage.

Consequently, Bail Application is allowed. Let the applicant be enlarged on bail in CBI Case No. 2 of 2011 (F.I.R. No. RC 0072010A0001), u/s 120B, 420, 468, 471 I.P.C. and 13(2) r/w (1) (d) of Prevention of Corruption Act, 1988, on his executing a personal bond and furnishing two sureties each of the like amount to the satisfaction of Magistrate concerned.