PRAMOD KUMAR GOIL Vs. STATE

JUDGEMENT

(1.) By way of the above captioned application, the applicant seeks regular bail under Section 439 Cr.P.C. in the case FIR No. 268/2009 dated 26.12.2009, under Sections 406/420/467/468/471/120-B IPC, registered at Police Station-Economic Offences Wing, New Delhi.

(2.) In the instant application, the applicant is in judicial custody since 29.11.2016 and the charge sheet has been filed in the learned Trial Court on 24.02.2017.

(3.) The brief facts stated are that the applicant/accused is one of the directors of M/s. Shree Bihari Forgings Pvt. Ltd. (hereinafter referred to as the 'said company') and the complainant Mr. Lalit Aggarwal is the other director of the said company. The company was incorporated on 15th March, 2004 and has been engaged in the business of manufacturing and dealing with metal forging. The said company had raised some loans in the past from Canara Bank with the consent of both the directors for its day-to-day business activities. However, for the last 4-5 years there were certain disputes between the directors of the company regarding the management and the working of the said company as a result of which the proceedings before the Company Law Board were initiated by both of them against each other. Subsequently, the complainant received information from various banks and financial institutions that the applicant/accused, who is the brother-in-law of the complainant had taken loans in the name of the said company.