VISHAL JAISWAL Vs. UNION TERRITORY OF CHANDIGARH

JUDGEMENT

(1.) PRAYER in this petition is for grant of regular bail to petitioner, Vishal Jaiswal, who has been booked for having committed the offences punishable under Sections 420, 467,468,471 and 120 -B, IPC in a case arising out of FIR No. 484 dated 15.11.2012, registered at Police Station, Sector 17, Chandigarh. Learned counsel for the petitioner submits that the petitioner had obtained a loan from the Bank which could not be repaid due to business loss and, therefore, the Bank has lodged the present FIR on false averments. He further submits that the petitioner is behind the bars from 17.11.2011 and after completion of the investigation, the charge sheet (report under Section 173 Cr.P.C.) has already been filed. He also contends that the charges were framed on 10.04.2013 and thereafter the case was adjourned to 24.04.2013 for recording the evidence of the prosecution, but even after expiry of 60 days from the first date fixed for recording the prosecution evidence, it has failed to complete its evidence. He further submits that not even a single prosecution witness has been examined so far. He also contends that all the offences for which the petitioner has been booked are triable by learned Judicial Magistrate 1st Class. He also contends that further incarceration of the petitioner is in violation of the provisions of Sub -Section (6) of Section 437, Cr.P.C.

(2.) LEARNED counsel for the State on instructions from Sub -Inspector, Rakesh Kumar of Economic Offences Wing, Sector -17, Chandigarh very fairly concedes that the petitioner is behind the bars from 17.11.2012 and after completion of the investigation, the charge sheet (report under Section 173, Cr.P.C.) was presented on 14.02.2013 and thereafter charges were framed on 10.04.2013. She also concedes that not even a single prosecution witness has been examined so far. However, she has opposed the grant of bail to the petitioner on the ground that he has committed the serious offences. She submits that the allegations against the petitioner are that he obtained the loan on the basis of forged documents. She further submitted that the FIR was lodged against the petitioner on the premise that he concealed the material facts from the Bank authorities for obtaining the loan.

(3.) ALL the offences for which the petitioner has been booked are triable by learned Judicial Magistrate 1st Class. The petitioner is behind the bars from 17.11.2012. After completion of the investigation, the charge sheet has already been submitted before the learned trial Court, therefore, the petitioner is not required by the Investigating Agency for investigation or interrogation etc.