MAYURAM SUBRAMANIAN SRINIVASAN Vs. C B I

JUDGEMENT

(1.) When the matter was placed for admission, the office report pointed out that the appellant in each Appeal has not surrendered and therefore in terms of the Supreme Court Rules, 1966 (in short the 'Rules') the Criminal Appeal cannot be taken up. It is pointed out that in each case an application has been filed for staying operation of the impugned judgment and final order dated 12th April, 2006 passed by the Special Court at Bombay constituted under the Special Court (Trial of Offences Relating to Transaction in Securities) Act, 1992 (in short the 'Act') in Special Case No. 4 of 1996 during the pendency of the appeal and to suspend the sentence of the appellant and the fine.

(2.) Learned Counsel for the appellants submitted that the appeal is under Section 10 of the Act and the learned Judge of the Special Court has suspended the substantive sentence passed against each of the accused for a period of 10 weeks from the date of judgment. For that purpose each of the accused executed fresh RR Bond. Time was granted for execution of the bond. It is case of the appellants that the Rules have no application to the present case, as there is a special provision i.e. Section 9(4) of the Act authorizing the concerned Court to regulate its procedure, adopt such procedure as it may deem fit consistent with the principles of natural justice. In exercise of that power the operation of the sentence has been suspended. It is also pointed out that in several appeals under Section 10 of the Act, this Court has directed suspension of the substantive sentence during the hearing of the appeal subject to furnishing of personal bond and had not required surrender of the accused appellant. Copies of several said orders have been placed on record.

(3.) Section 389 of the Code of Criminal Procedure, 1973 (in short the 'Code') permits a Court to suspend the sentence pending the appeal and for release of the appellant on bail.