Law: Criminal Procedure Code (V of 1898)

Section: 497

Law: Penal Code (XLV of 1860)

Section: 420,468,471,109,409

Law: Prevention of Corruption Act, 1947

Section: 5(2)

(a) Criminal Procedure Code (V of 1898)--- ----S.497---Penal Code (XLV of 1860), Ss.420, 468, 471, 109 409---Prevention of Corruption Act (II of 1947), S.5(2)---Cheating and dishonestly inducing delivery of property, forged document, using as genuine a forged document, abetment, criminal breach of trust by public servant, public servant committed or attempt to commit criminal misconduct---Bail, refusal of---Accused was charged that he along with his co-accused fraudulently withdrew an amount of Rs. 52,254,074/- through fake bills of Central Ordnance Depot in favour of four firms---Record showed that co-accused, in whose name the firms were registered and the bogus bills were prepared, was arrested in the case and later on he got recorded his statement under S.164, Cr.P.C.---Review of the statement of co-accused revealed that petitioner was not only the mastermind behind the fraud but also crafted the strategy to get it accomplished---According to the stance of co-accused, as was evident from his S.164, Cr.P.C statement, accused used to pocket major share from the plundered money---At the time of withdrawal of looted amount from the Banks, the petitioner used to stay out by leaving such task to be performed by co-accused---Another co-accused also got recorded his statement under S.164, Cr.P.C, by pointing his fingers towards accused as the main culprit---Probe of FIA further unveiled that during tenure of fraud, the accused amassed wealth, disproportionate to his known sources of income and included two apartments in top most housing schemes---Forensic of cell phone of the accused revealed that he was hand in glove with his co-accused in execution of scam---Record showed that one of the co-accused was granted post arrest bail in the case, however, the case of said co-accused was on much lesser pedestal than the case of present accused, thus, concession of post arrest bail could not be extended to him on the principle of consistency---Severity of white collar crimes could further be measured from the facts that such offences left the victim in financial crises and mental distress---Such offences were not to be placed at lower pedestal---Fraud was an offence only…

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