STATE OF MAHARASHTRA Vs. KETAN PAREKH AND ETC.

JUDGEMENT

(1.) These three applications are made by the State for quashing the order of bail granted to the respondents-accused in a complaint filed by an Overseas Corporate Body by name European Investment Ltd. on 9th April 2002 for offences under Sections 409, 420, 465, 467, 468, 471, 474 read with Sec. 34 of Indian Penal Code.

(2.) The respondents-accused had applied for bail by three separate applications before the Sessions Court and the Ld. Addl. Sessions Judge, Gr. Bombay by his common order dated 5th June 2002 had granted them bail on the following conditions:

(3.) The complaint was initially registered under C. R. No. 179/2002 by the Azad Maidan Police Station. Thereafter it was transferred to General Branch, Crime Branch, C.I.D. Mumbai, who re-registered the offence under C.R. No.48 of 2002. The complainants are European Investments Ltd., an Overseas Corporate Body having its registered office in Mauritius and having office in Mumbai at Maker Bhavan III; New Marine Lines, Mumbai 400020. The said complainant-company is dealing in shares in India as per the guidelines laid down by Reserve Bank of India for Overseas Corporate Body. They had dealings with M/s. Triumph International Finance (India) Ltd. (herein after referred to as "Triumph"), a member of the National Stock Exchange. The respondents-accused are the Directors of the said firm.