WARYAM SINGH KARTAR SINGH Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Heard Shri Mundargi, learned Senior Advocate for the appellant and Shri Yadav, Learned APP appearing for the State.

(2.) This is a second application for bail by the applicant-Waryam Singh Kartar Singh in this Court. The earlier application being Bail Application No. 800 of 2022 was rejected on merits by this Court vide order dtd. 21/02/2023. Having regard to the gravity of the accusations against the applicant, before I proceed to consider this application on the grounds now raised, it is expedient to reproduce the earlier order dtd. 21/02/2023 for ease of reference and to appreciate the magnitude of this serious economic offence alleged which reads thus:

(3.) Learned counsel for the applicant was at pains to point out that in view of the letter dtd. 21/09/2019, followed by the registration of the FIR dtd. 30/09/2019 reveals that it is the Managing Director (accused no. 3) who had taken all decisions for granting overdrawals. According to him, the executives had no role in allowing the overdrawals which they were doing as per his instructions. No doubt, from this letter, it appears that the Managing Director has taken over upon himself the entire responsibilities of sanctioning of these irregular loans in favour of HDIL. According to the learned counsel, this completely exonerates the applicant. In view of what is discussed hereafter, this contention of learned counsel is completely devoid of substance.