Excelsior Correspondent
JAMMU, July 30: High Court today granted interim bail of 20 days to Sandeep Gulhati and Shailendra Gulhati, who were arrested by the Crime Branch on November 17, 2018, on their furnishing bail bonds in the sum of Rs 2,00,000 each with two sureties of the like sum to the satisfaction of the trial court.
“If the petitioners deposit an amount of Rs 2 crores each with the Presiding Officer of the court of Judicial Magistrate, 1st Class, Sub Judge, Jammu (trial court), the interim bail shall be deemed to have become absolute”, Justice Tashi Rabstan said.
“On deposit of the amount within a period of twenty days of release of the petitioners, Presiding Officer of trial court shall keep the same in the shape of FDR with the J&K Bank Limited with its High Court Branch at Jammu by designation, initially for a period of six months”, High Court further said, adding “petitioners shall surrender their passport, if any, and in case they are not holder of the same, they shall swear individual affidavits before the trial Court”.
The petitioners have also been directed to appear before the Police Station, Crime Branch, Jammu, on every Saturday during day time and appear before the court as and when required. “Petitioners shall not threaten, induce or allure the witnesses and shall not temper with the prosecution evidence and leave the territorial jurisdiction of trial court without its permission”, High Court further said.
Earlier, after hearing Senior Advocates BS Salathia and Sunil Sethi with Advocates Bhanu Singh Salathia and Vishal Mahajan for the applicants whereas Senior Advocate PN Raina with Advocate Yaseer Ejaz Tak for the complainant whereas Advocate Rajneesh Oswal for the Crime Branch, Justice Rabstan observed, “the petitioners are charged with serious economic offence involving Rs 12.90 crore and law in this regard is settled that in case of economic offences, the object of criminal prosecution is to protect the investors and help them in recovery of the money”.
“The detention of accused in the jail would not aid them in recovery of money. In economic offences, the purpose is more to recover the amount than to punish the accused persons”, the High Court said, adding “a balance is required to be maintained between the right of the accused and interest of the society, particularly in economic offences having tendency to jeopardize the economy of the country and hampering growth and development of the nation”.
Trending Now
E-Paper
Follow our WhatsApp channel