TITLE -For the bail application under section 439 of code of criminal procedure

CASE NAME -KULDEEP SINGH VS CBI

Court No. – 87 Case :- CRIMINAL MISC. BAIL APPLICATION No. – 51368 of 2021

Applicant :- Karandeep Singh

Opposite Party :- C.B.I./ E.O.U.Iv/Eoii

Counsel for Applicant :- Anubhav Shukla,Ram Shiromani Shukla

Counsel for Opposite Party :- Sanjay Kumar Yadav

BENCH- Hon’ble Dinesh Kumar Singh,J.

The present application under Section 439 Cr.P.C. has been filed seeking bail in Special Case No.06 of 2020, RC No.2202018E 0010, under Sections 120-B read with 420, 467, 468 and 471 IPC, Police Station CBI/EOU-IV/EO-II, New Delhi, District Ghaziabad.

FACTS

1.A complaint for registration of F.I.R. and taking appropriate action against M/s. J.R. Foods and its proprietors, Nikhil Gaur and Nitin Gaur had been filed by Sri Pawan Kumar Gaur s/o Late Ram Avtar Sharma who was working as Regional Branch of Bank of India, Regional Officer, Begum Bridge Road, Opposite GIC, Meerut, alleging that the said firm i.e. M/s. J.R. Foods through its Proprietor, namely Nikhil Gaur along with the guarantor, namely, Ms. Sudesh Gaur, mother of Nikhil Gaur, had applied for Cash Credit limit of Rs.1500Lacs to the bank on 15.02.2017 and the bank sanctioned the Credit Facility of Rs.1500 Lacs to the said proprietorship firm on 22.03.2017.

2.The entire amount of Rs.1500 Lacs got siphoned off by Nikhil Gaur and his brother and it was channelized to various bogus concerns. The details of various concerns/companies/firms, in which the amounts from Rs.1500 Lacs was channelized has been given in detail in the charge sheet filed by the C.B.I. after investigating the offence.

3. It is alleged that one of such concerns where the amount from the Cash Credit Limit was transferred was M/s. Gurumangla Trading Private Ltd.

4.The registration of F.I.R. and taking appropriate action against M/s. J.R. Foods and its proprietors, Nikhil Gaur and Nitin Gaur had been filed by Sri Pawan Kumar Gaur s/o Late Ram Avtar Sharma who was working as Regional Branch of Bank of India, Regional Officer, Begum Bridge Road, Opposite GIC, Meerut, alleging that the said firm i.e. M/s. J.R.

5. Foods through its Proprietor, namely Nikhil Gaur along with the guarantor, namely, Ms. Sudesh Gaur, mother of Nikhil Gaur, had applied for Cash Credit limit of Rs.1500Lacs to the bank on 15.02.2017 and the bank sanctioned the Credit Facility of Rs.1500 Lacs to the said proprietorship firm on 22.03.2017. The entire amount of Rs.1500 Lacs got siphoned off by Nikhil Gaur and his brother and it was channelized to various bogus concerns.

6.The details of various concerns/companies/firms, in which the amounts from Rs.1500 Lacs was channelized has been given in detail in the charge sheet filed by the C.B.I. after investigating the offence. It is alleged that one of such concerns where the amount from the Cash Credit Limit was transferred was M/s. Gurumangla Trading Private Ltd. And M/s. Maxim Trading Private Ltd. Under the proprietorship of co-accused Sudhir Kumar. Mr. Rajveer, Director of M/s. Gurumangala and Sudhir Kumar, Proprietor of Maximum Trading Private Ltd., could not be traced and it appears that they were fake persons in whose names these two concerns were constituted and money was transferred to be withdrawn by the Gaur’s family

ALLEGATIONS

It is further alleged that Mobile No. 8368821741 was taken in the name of Sri Navneet Singh since December 2016 while Mobile No. 9599496311 was taken in the name of M/s. Companion Business Solutions India Pvt. Ltd. Through present petitioner being Director of the said M/s. Companion Business Solutions India Pvt. Ltd.

ARGUMENT

The investigation had revealed that subsequent to the sanction of Credit Facilities to the tune of Rs.1500 Lacs, the said amount was siphoned off by Sri Nikhil Kumar Gaur; in criminal conspiracy with; Nitin Kumar Gaur, Director of M/s. Darshan Tradexim Private Limited, Sri Karandeep Singh, Proprietor of KAAYAN Overseas, the present accused-applicant and one Harish. A total amount of Rs.100 Lacs was transferred to M/s. A.S. Enterprises, Rs.176 Lacs to M/s Annapurna Trading, Rs.638 Lacs to M/s Darshan Tradexim Private Limited and Rs.528 Lacs was transferred to M/s KAAYAN Overseas. All the aforesaid amounts were transferred

PRAYER

Learned counsel for the CBI has opposed the prayer for bail, but not disputed the aforesaid facts.

Considering the fact that the trial court itself has granted bail to the main accused, I find it appropriate to enlarge the accused-applicant on bail.

 Let applicant Karandeep Singh be released on bail in the above case crime number on his furnishing a personal bond and two sureties each in the like amount to the satisfaction of Court concerned with the following conditions :-

HELD

The applicant shall file an undertaking to the effect that he shall not seek any adjournment on the dates fixed for evidence when the witnesses are present in court. In case of default of this condition, it shall be open for the trial court to treat it as abuse of liberty of bail and pass orders in accordance with law.

The applicant shall remain present before the trial court on each date fixed, either personally or through his counsel. In case of his absence, without sufficient cause, the trial court may proceed against him under Section 229-A of the Indian Penal Code.