Allowed

Ankush Jain v. C.b.i

Uttarakhand HC17 Dec 2014BA1/1499/2014

Case brief

AI extract

What is this about?

The Court examined a bail application in a corruption and cheating case where the applicant accused of conspiracy and money laundering charged loans from a bank. Since the applicant was not a public servant and had returned the loan principal and interest before the FIR was lodged, the Court considered the case for bail based on parity and allowed it.

What did the court decide?

Applicant to be released on bail on executing a personal bond and furnishing two reliable sureties, each of like amount to the satisfaction of Special Judge (CBI), Dehradun.

Ankush Jain Vs C.b.i — Corruption | Uttarakhand HC (2014)

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IN THE HIGH COURT OF UTTARAKHAND AT NAINITAL Original Jurisdiction

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Dated: Nainital: the 17^th day of December, 2014 Ist Bail Application No. 1499 of 2014

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Order on the Bail Application:

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CRIMINAL SIDE

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Ankush Jain …… Applicant

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versus

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The CBI …… Opposite Party

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Mr. M.A. Khan, Advocate for the applicant. Mr. Arvind Vashisth, Sr. Advocate assisted by Mrs. Monika Pant, Advocate for respondent CBI.

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U.C. Dhyani, J.

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Applicant Ankush Jain, who is in jail in connection with RC no. 0072012A0008 of 2012, in respect of offences punishable under Section 120B IPC read with Sections 420, 471 IPC read with Section 468 IPC and Section 13(2) read with Sec. 13(1)(d) of Prevention of Corruption Act, relating to Police Station, CBI, SPE Dehradun, District Dehradun, has sought his release on bail.

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Heard learned counsel for the parties, perused the documents brought on record and considered the grounds taken up in the bail application.

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Consequent upon filing of FIR, the alleged crime was investigated by CBI, who submitted a charge-sheet against the accused-applicant and others

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for the offences punishable under Sections 120B, 420, 471 IPC read with Section 468 IPC and Section 13(2) read with Sec. 13(1)(d) of prevention of corruption Act, 1988.

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The applicant obtained a loan of Rs. 38.23 lakhs from Punjab National Bank. According to learned counsel for the applicant, applicant has returned the principal amount alongwith interest to PNB. FIR was lodged on 29.10.2012. It is the statement of learned counsel for respondent CBI that cash credit loans were taken by the accused persons in the name of non-existing firms on the basis of forged documents.

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The allegation against the applicant and others was that they cheated and caused pecuniary loss to PNB in furtherance of their criminal conspiracy. The allegations were also levelled against the officers of PNB, but this Court is not inclined to deliberate on those allegations, in as much as the provisions of Prevention of Corruption Act are not attracted against the present applicant, he being not a public servant.

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It is also submitted by learned counsel for the applicant that other co-accused, namely, Sudhir Jain, Naresh Kumar, Rajnesh Jain, Pradeep Kumar Jain, Pradeep, Nirdosh Sharma, Sunil, Praveen, Sandeep, Ashok Jain and Ashu Jain were granted bail by this Court, vide orders dated 15.04.2014, 15.10.2014, 21.11.2014, 28.11.2014, 20.11.2014, 10.11.2014, 10.11.2014, 10.11.2014 13.05.2014, 09.12.2014 and 16.12.2014 respectively.

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Considering the allegations levelled against the present applicant, as also the fact that he is not a public servant, and he repaid the loan alongwith interest to PNB even before lodging of FIR, a case for bail is made out in favour of the present applicant on the basis of parity.

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The bail application is allowed. Let the applicant be released on bail on his executing a personal bond and furnishing two reliable sureties, each of like amount to the satisfaction of Special Judge (CBI), Dehradun.

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Dt. December 17, 2014.

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Negi

Ankush Jain v. C.b.i

Case brief

What is this about?

What did the court decide?

Ankush Jain v. C.b.i

Case brief

What is this about?

What did the court decide?

What the court decided

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