A K BANARGEE Vs. LALIT KANODIA

JUDGEMENT

(1.) Heard Shri M.K. Patwardhan, the learned Senior Counsel for the Customs Department and S/Shri Krishkant Desai, P.R.Vakil and S.G. Samant, the learned counsel, for the Respondent Nos. 1 to 3.

(2.) Perused the relevant papers of investigation which are tendered by the Investigating Officer who is present in Court and which are also sought to be relied upon by Shri Patwardhan on behalf of the Department.

(3.) On the basis of intelligence report the officers of the Enforcement Directorate conducted raids at the office premises of M/s Digitron Computers Private Limited, Bombay and M/s Datamatics Consultance Limited as also the residential premises of respondent No. 2 who is claimed to be the Director of the said concern. All the three accused are alleged to have been associated with the said two concerns. This was in connection with the contravention under the Foreign Exchange Regulation Act. Some documents came to be seized from the two places and now those are sought to be constructed to spell out an inference formulating an offence under the said Act alleged to have been committed by the three accused. The three respondents came to be arrested on 29th of November 1985 and they were produced before the learned Magistrate for remand when a counter claim for bail was made by the respondents-accused and which claim found favour with the learned Magistrate who enlarged the three respondents on bail each in the sum of Rs. 5,00,000/-. The petitioner herein is the Assistant Director of Enforcement Directorate protests against the validity of that order in this proceeding.