STATE TIMES NEWS JAMMU: Justice Tashi Rabstan of J&K High Court granted interim bail to Gulati brothers namely Sandeep Gulati and Shailendra Gulati who were arrested by the Crime Branch in alleged fraud case on November 17, 2018. “Petitioners are ordered to be enlarged on interim bail of 20 days on their furnishing bail bonds in the sum of Rs. 2 lakh each with two sureties of the like sum to the satisfaction of the trial court. If the petitioners deposit an amount of Rs 2 crore each with the Presiding Officer of the Court of Judicial Magistrate, First Class, Sub Judge, Jammu (Trial Court), the interim bail shall be deemed to become absolute. 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. 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. Petitioners shall appear before the Police Station, Crime Branch, Jammu, on every Saturday during day time. Petitioners shall appear before the court as and when required. Petitioners shall not threaten, induce or allure the witnesses and shall not tamper with the prosecution evidence and petitioners shall not leave the territorial jurisdiction of Trial Court without court’s permission”, the court observed. After hearing Senior Advocates B.S Salathia and Sunil Sethi with Advocates Bhanu Singh Salathia and Vishal Mahajan for the applicants and Senior Advocate P.N Raina with Advocate Yaseer Ejaz Tak for the complainant while Advocate Rajneesh Oswal for the Crime Branch, the court observed that while releasing the petitioners on bail, it is being considered that 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 objective of criminal prosecution is to protect the investors and help them in recovery of the money. “In economic offences, the purpose is more to recover the amount than to punish the accused persons. The fact that investigating agency has already completed investigation and the charge sheet already filed before the court, the presence of accused in the custody may not be necessary”, the court held and granted bail.
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© 2017 State Times Daily Newspaper