ANAND TEWARI Vs. CBI

JUDGEMENT

(1.) THE petitioner-accused had filed this application for his release on bail in this case, in which the allegations against him were that he along with his co-accused, who already stands released on bail because of the failure of the CBI to file charge- sheet against him within the prescribed period of 90 days from the date of his arrest, were the Directors of one Company by the name of M/s. Mahua Media Pvt. Ltd. and in conspiracy with each other they had defrauded many banks of over thousand crores of rupees by submitting forged documents while availing financial facilities from the banks.

(2.) IN the bail application it had been stated by the petitioner that there was no substance in the allegations levelled against him and, therefore, he was entitled to be released on bail and also that he was suffering from liver cirrhosis because of which he had become extremely fragile and his condition had, in fact, deteriorated during his detention in jail.

(3.) LEARNED senior counsel for the petitioner had drawn my attention to the reply filed by the CBI to the bail application of co- accused P.K. Tiwari before the Sessions Court. A perusal of the reply would show that the CBI had stated therein that even though the investigation conducted clearly reflected the role played by the accused but investigation was going on to find out the involvement of bank employees who could be responsible for the disbursal of loans to the Company of the petitioner and his co-accused on the basis of forged documents. From the CBI's reply it becomes apparent that as far as the allegations levelled against the petitioner and his co-accused P.K. Tiwari are concerned, the CBI has already collected enough material against them. However, it is continuing its investigation to find out if any bank employees were also involved in the grant of loans to the Company of the petitioner and his co-accused without due diligence in order to favour them. That exercise of course will take time but it cannot be said at this stage that within the remaining statutory period for completion of investigation the CBI will not file its charge-sheet against the petitioner.