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IN THE COURT OF SPECIAL JUDGE (CBI) FOR GREATER MUMBAI
CRIMINAL BAIL APPLICATION NO. 419 OF 2017
IN
REMAND APPLICATION NO. 491 OF 2017
IN
CBI, EOW C.R.NO.RC0682017E0002
Janardhan Durgaprasad Pandey
Age: 46 years. Occ: Business.
R/a: 601/602, Brindaban III,
Opp.ONGC Colony, Poonam Nagar,
Andheri (E), Mumbai н400 093.

Е Applicant
Versus
The State of Maharashtra
(at the instance of CBI, EOW, Mumbai)
….

Respondent.

Adv. Ms. Shweta Sangtani for applicant.
PP Mr. Nandode for CBI
Coram:
Date :
His Honour The Special JudgeнCBI,
Shri P.S.Tarare (CR No.50)
(Inнcharge of C.R.NO.47)
10th August, 2017.
ORDER
1.

This is the application for grant of bail in C.R.No.RC 02/E/2017,
CBI, EOW, Mumbai.
2.

Read the application and say filed by prosecution. Perused the
chargesheet. Heard both sides.
3.

The Ld. Counsel for the applicant submitted that this is the
second bail application. The earlier application for bail was rejected on
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the ground that investigation is inнcomplete.
completed and chargesheet is also filed.
abide the conditions of grant of bail.

Now investigation
is
The applicant is ready to
Therefore the custody of the
applicant is not needed. Hence applicant may be enlarge on bail.
4.

The Ld. Counsel for the applicant relied on the case of Sanjay
Chandra Vs. Central Bureau of Investigation reported in AIR 2012
Supreme Court 830, wherein the object of bail is discussed.
5.

The prosecution opposed the application on the ground that the
applicant/accused is deeply involved in the crime and he is the main
brain and the main beneficiary of the offence. The accused is prima
facie involved in the commission of offence.

Furthermore the
investigation is at crucial stage and yet not completed.
6.

The prosecution has filed reply to the bail application on
14/7/2017. At that time chargesheet was not submitted. However,
during pendancy of the bail petition the prosecution submitted the
chargesheet on 27/7/2017.
7.

The offence is registered on the complaint dated 01/04/2017 of
Shri M.M.Panda, AGM, Central Bank of India, Mumbai Main Office,
Mumbai against M/s. Swiss Brainstore Systems (India) Private Limited
its Directors Shri Sudesh Yogendra Prasad and Smt.Padmachar Sudesh
Prasad, Valuer Shri Hitendra Gangwar of M/s. Rachna Valuers and
Surveyors, Chartered Accounts Shri K.S.Subrahmanyam and Shri Sahil
Kothari, Shri S.K.Roy, then Chief Manager and shri Arvind Sethi, then
AGM, Central Bank of India, Mumbai Main office, Mumbai, Shri
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Janardan Durgaprasad Pandey, Director M/s.Flextough Metals Private
Ltd.

Shri
Hirji
Khimji
Patel
for
causing
wrongful
loss
of
Rs.20,95,89,378/н as on 30/9/2014 to the Central Bank of of India by
committing fraud and forgery and diverting the funds sanctioned and
disbursed to M/s. Swiss Brainstore Systems (India) Private Ltd.
8.

Chargesheet shows that M/s. Swiss Brainstore Systems (India)
Pvt. Ltd. Availed the entire Credit Facilities by 26/2/2013. Shri Shail
Kothari C.A. has given false certificate dated 15/4/2013 certifying the
end use of the funds. In actual the bank funds were siphoned out of
banking channel by the Directors Shri Sudesh Yogendra Prasad, and
Smt. Padmachar Sudesh Prasad in connivance with the present accused
Shri Janardan D. Pandey in a preнplanned manner with a view to cheat
Central Bank of India.

Accused Shri Janardan D. Pandey received
Rs.26.67 Crore from the account of M/s. Swiss Brainstore System
(India) Pvt. Ltd. to the account of his firm M/s. Flextough Metals, IDBI
Bank and company M/s. Flextough Metals Pvt. Ltd. ICICI Bank.
9.

The applicant/accused is the Director of M/s.Flextough Metals
Pvt. Ltd. a company, as well as the Sole Proprietor of Flextough Metals,
a firm. The applicant/accused has conveniently suppressed the name of
M/s. Flextough Metals, which account was used by him to pay the
bribes to the public servants and others.
10.

On perusal of the chargesheet it appears that during investigation
police arrested the accused on 31/5/2017 and he was in PC till
9/7/2017 and thereafter he is in MCR.

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11.

The Ld. PP during argument submitted that though the
chargesheet is filed against the present applicant/accused but the
chargesheet is yet to be filed against other coнaccused and investigation
is in progress. The prosecution opposed the application on the main
ground that the investigation is at crucial stage and he may tamper with
the prosecution witnesses.

But now the prosecution has filed the
chargesheet against the present applicant/accused. Therefore custody
of the applicant is not needed for further investigation against the
applicant/accused.
12.

The applicant/accused is permanent resident of Mumbai and
ready to abide the conditions of grant of bail. He is in jail for about two
months. After completion of investigation chargesheet is also submitted
against him. Considering the above facts and circumstances in my view
the purpose of the prosecution will be served if the applicant/accused is
directed to attend CBI office for the purpose of investigation. Therefore,
I think it proper to release the applicant/accused on bail on imposing
certain conditions and pass following order;
ORDER
1.

Bail Application No.419 of 2017 is allowed.

2.

The applicant/ Accused Janardhan Durgaprasad Pandey be
released on bail on his furnishing PB and SB of Rs.50,000/нwith one
solvent surety of like amount subject to condition that:н
a) He shall attend CBI office on every Monday and Thursday
in between 10.00 am to 5.00 p.m. for the purpose of
investigation for the period of three months from today.

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b) He shall not tamper with the prosecution witnesses in any
manner.
c)
In
case
of
any
breach
of
condition
the
prosecution is at liberty to file application for cancellation
of bail.
d)
3.

Inform investigating officer accordingly.

Bail Application No. 419 of 2017 stands disposed off
accordingly.

Dt. 10.08.2017
Dictated on
Transcribed on
Signed on
: 10.08.2017
: 11.08.2017
: 11.08.2017
(P.S.Tarare)
Special JudgeнCBI
Inнcharge of C.R.No.47
Gr. Bombay
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УCERTIFIED TO BE TRUE AND CORRECT COPY OF THE ORIGINAL
SIGNED JUDGMENT/ORDERФ
UPLOAD DATE AND TIME
NAME OF STENOGRAPHER
: 11.08.2017 AT 05н57 PM
: MRS. Prajakta K.More
NAME OF THE JUDGE
HHJ Shri.P.S.TARARE
(C.R.No.50)
Date of Pronouncement of Order
10.08.2017
Order signed by the P.O. On
11.08.2017
Order uploaded on
11.08.2017