WASIMAKRAM WARISALI SAIYED Vs. STATE OF GUJARAT

JUDGEMENT

(1.) This bail application is filed by the applicant under Section 439 of the Code of Criminal Procedure for regular bail in connection with the First Information Report being C. R. No. I-256 of 2011 registered with Navrangpura Police Station, Ahmedabad for the offence punishable under Sections 406, 420, 467, 468, 471, 34 and 114 of the Indian Penal Code.

(2.) Learned advocate appearing on behalf of the applicant submitted that the present applicant had made efforts even by selling away his movable and immovable properties and almost for about more than Rs.3.50 crores has been refunded to the creditors. In the present case also, the amount to the extent of Rs.1.20 crore is being paid out of Rs.4.31 crores, however since he could not fulfill the condition to refund for about Rs.3.10 crores, he is in jail for about last six months.

(3.) Learned Additional Public Prosecutor appearing on behalf of the respondent-State opposed grant of regular bail looking to the nature and gravity of the offence.