SARVPREET CHAWLA Vs. CENTRAL BUREAU OF INVESTIGATION

JUDGEMENT

(1.) By way of present application, under Sec. 439 of the Code of Criminal Procedure (hereinafter referred to as 'CrPC'), applicant-Sarvpreet Chawla has sought his release, on bail, during the pendency of trial, in case FIR No.02 of 2020, dtd. 23/7/2020, registered under Ss. 120B, 420, 471 of Indian Penal Code (hereinafter referred to as 'IPC') and Sec. 13(2) read with Sec. 13(1)(d) of the Prevention of Corruption Act, 1988 (hereinafter referred to as the 'PC Act'), with Police Station CBI, Shimla, District Shimla, H.P.

(2.) According to the applicant, FIR in question was registered with CBI, ACB, Shimla Branch on 23/7/2020, on the written complaint of Zonal Office of Andhra Bank, in which, they have alleged that during the period from 2017-19, one open cash credit loan was sanctioned for a sum of Rs.12.00 crores in favour of M/s Bright Plastics. The said account was stated to be declared as 'NPA' by the bank on 29/8/2018 and also on 29/4/2019 with an outstanding amount of Rs.15,45,82,550.00, including interest.

(3.) On the basis of above facts, Mr. Vipin Pandit, Advocate, appearing for the applicant, has prayed that the present bail application may be allowed and applicant may be released on bail, during the pendency of the trial.