N. UMASHANKAR Vs. ASSISTANT DIRECTOR, DIRECTORATE OF ENFORCEMENT

JUDGEMENT

(1.) The petitioners, namely, N.Umashankar, N.Arunkumar, Janarthanan, Saravanakumar, are arrayed as accused nos.2, 3, 4 and 9, respectively and ECIR No.ECIR/MDSZO/04/2018, on the file of the Court of Principal Sessions Judge, City Civil Court, Chennai. This is the second petition for bail and the earlier petition was dismissed on 02.02.2021.

(2.) The learned counsel appearing for the petitioners would point out that at the time of dismissal of the earlier application for bail in Crl.O.P.Nos.673, 675 and 677 of 2021 on 02.02.2021, the investigation was pending. Now the respondent has filed a complaint, before the Court of Principal Sessions Judge, City Civil Court at Chennai and it is in the stage of check and call and therefore, it amounts to change of circumstances. It is the further submission of the learned counsel appearing for the petitioners that the Economic Offences Wing of Tamil Nadu Police has registered a case in Cr.No.6 of 2016 on 02.06.2016, for the alleged commission of offences under Sections 406, 420, 120B of IPC read with Section 5 of the Tamil Nadu Protection of Interest of Depositors (in Financial Establishment) Act, 1997 (TNPID Act) and they were enlarged on bail in the event of arrest and nearly after two years and odd, the bail granted to them came to be cancelled and during their incarceration, the Committee of Administrator appointed by the Hon'ble First Bench of this Court had seized and got over almost all documents pertain to the properties and some of the properties are also brought for sale and this Court is also taking a call as to the confirmation or otherwise of the sale of the said properties.

(3.) It is also contended by the learned counsel appearing for the petitioners that since the investigation done by the respondent has been completed and complaint has also been filed, which is yet to be taken on file, as it is in the stage of check and call, the question of hampering investigation and tampering the witnesses would not arise at all. It is also pointed out that the passports of the petitioners are also ordered to be surrendered, in connection with the case in Cr.No.6 of 2016, registered by the Economic Offences Wing of Tamil Nadu Police and as such, the question of fleeing from the hands of justice would not arise. It is also the submission of the learned counsel appearing for the petitioners that the petitioners, in the event of enlarging of bail, would fully cooperate with the respondent / Investigating Agency and it is also open to the Court to impose any conditions in this regard.