JUDGMENT : Virender Singh, Judge By way of present application, under Section 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, dated 23.07.2020, registered under Sections 120B, 420, 471 of Indian Penal Code (hereinafter referred to as ‘IPC’) and Section 13(2) read with Section 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 23.07.2020, 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 crores in favour of M/s Bright Plastics. The said account was stated to be declared as ‘NPA’ by the bank on 29.08.2018 and also on 29.04.2019 with an outstanding amount of Rs.15,45,82,550/-, including interest. 2.1. Further, it is alleged that the borrowers were not cooperating for renewal of the limits, which were overdue and thereafter, the spot was visited and it was found that no unit was functioning and the collateral securities were found highly overvalued. 2.2. Thereafter, the bank had initiated the proceedings, under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short called as ‘the SARFAESI Act’) and possession of the properties, mortgaged with Bank, were taken. 2.3. It is further alleged that the accused persons had diverted the funds in the accounts of their relatives, maintained in other banks. As such, a prayer has been made to take action, upon which, FIR in question was registered and criminal machinery swung into motion. 2.4. It is the further case of the applicant that he was arrested in the present case and presently, he is in judicial custody. 2.5 Further, applicant had tried his luck by moving bail application, before the learned Special Judge (CBI Court), Shimla, which was dismissed on 05.10.2023. It is further alleged that there are commercial transactions and it has been pleaded that he has not committed any offence and investigation, in the present case, is also stated to be completed. 2.5 Further, applicant had tried his luck by moving bail application, before the learned Special Judge (CBI Court), Shimla, which was dismissed on 05.10.2023. It is further alleged that there are commercial transactions and it has been pleaded that he has not committed any offence and investigation, in the present case, is also stated to be completed. 2.6 Apart from this, the applicant has given certain undertakings, for which, he is ready to abide by, in case, he is ordered to be released on bail. 2.7 Applicant has also filed Cr.MP(M) No.40 of 2024, before this Court, which was withdrawn on 10.01.2024 and thereafter, moved another Cr.MP(M) No.137 of 2024, which was also withdrawn on 15.01.2024. 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. 4. When put to notice, CBI has filed reply to the present application, disclosing therein, that FIR in question was lodged on the written complaint of Andhra Bank (now Union Bank of India), in which, it has been alleged that during the period from 2017-19, one Open Cash Credit loan for a sum of Rs.10 crores was sanctioned to M/s Brilliant Electro Air, a proprietary concern, incorporated on 21.03.2010, engaged in manufacturing of aluminium casted fan cover, mild steel fabricated fan covers, mild steel shank, shackle, blade and down road (all fan parts). The said open cash credit loan was sanctioned by Zonal Office, Chandigarh, on 16.01.2017. 4.1 Further, the said bank account was declared NPA on 28.09.2018 and declared fraud on 29.04.2019, with outstanding amount of Rs.12,92,13,776/-. 4.2 Despite the fact that the limits were overdue, the accused borrower had not been cooperating for renewal. When, the unit was visited, it was found that the unit was not functional and collateral securities, offered, were found highly overvalued. Not only this, diversion of funds has also been found. 4.3 Thereafter, the chargesheet was filed against Sarvpreet Chawla (applicant), Amandeep Singh Godhan, Pankaj Thakur (the then Branch Manager), Shaik Hussain (the then DGM), Yogesh Jassal (empanelled Advocate) and H.G. Ahluwalia (empanelled valuer), under Sections 120B read with Section 420, 471 of IPC and Section 13(2) read with Section 13(1)(d) of PC Act, in the Court of learned Special Judge (CBI), at Shimla. 4.4 The prayer of bail has also been opposed on the ground that during the course of investigation, applicant had joined the investigation and provided his address of HM-81, Phase IV, Mohali, Punjab – 160059. 4.5 After filing of charge-sheet, against the applicant, when learned trial Court has taken the cognizance of the offences and issued the summons, the same could not be served, on the given address, as, he was not found at the aforesaid address. Not only this, he had intentionally put his Mobile No.82888-71730 as non-operational and had deliberately changed his residential address. The said mobile number was provided to CBI during investigation. 4.6 It is further case of the investigating agency that the applicant was found to be residing in Village Chhaju Majra, Tehsil Kharar, District Mohali, Punjab. Not only this, he has also changed his social media accounts and living at present address in the name of Savi Chawla. 4.7 Despite the best efforts, made by the investigating agency to ascertain the whereabouts of the applicant, he was not found and on 03.08.2023, he was declared proclaimed offender. He was arrested on 16.09.2023 from Mohali and on the basis of above grounds, apprehension has been expressed that in case, he is ordered to be released on bail, he will violate the terms and conditions of the bail and will not be available for the trial. 5. On the basis of above facts, a prayer has been made to dismiss the application. 6. As per the stand, taken by the CBI, other accused have already been released on bail. 7. So far as the apprehensions, which have been expressed, in this case, that the applicant, when summoned, was not found at the address, which has been given to the Investigating Officer, are concerned, on this ground, applicant cannot be kept in the judicial custody for indefinite period, as, chances of conclusion of trial, against the applicant, in near future, are not so bright. 8. Moreover, pre-trial punishment is prohibited under the law. Even for those apprehensions, reasonable and stringent conditions can be imposed upon the applicant, in case, he is ordered to be released on bail. 9. Considering all these facts, this Court is of the view that the applicant is entitled for the relief of bail, as claimed in the application, as such, his bail application is allowed. Even for those apprehensions, reasonable and stringent conditions can be imposed upon the applicant, in case, he is ordered to be released on bail. 9. Considering all these facts, this Court is of the view that the applicant is entitled for the relief of bail, as claimed in the application, as such, his bail application is allowed. The applicant is ordered to be released on bail, subject to furnishing personal bond in the sum of Rs.2,00,000/-, with two sureties in the like amount, to the satisfaction of learned trial Court. 10. This order of release, however, shall be subject to the following conditions:- “a) Applicant shall not leave the country, without prior permission of the Court; b) Applicant shall surrender his passport, if he possesses the same, with the learned trial Court, during the period, he remains on bail; c) Applicant shall furnish proof regarding his permanent address, or the address, where, he intends to live, during the bail, to the Investigating Officer. It is further directed that in case, applicant changes his residence, he shall inform the same to Court/Investigating Officer, in this regard; d) Applicant shall use only one mobile number, during the time, he remains on bail. He is also directed to give details of his mobile number to the Investigating Officer and he shall ensure that his mobile phone will remain active, during the period of his bail. He is further directed to keep the location status (GPS) of his mobile phone active, round the clock, so that, his exact location could be ascertained by the Investigating Officer; e) Applicant shall make himself available for the purpose of interrogation, if so required and regularly attend the trial Court on each and every date of hearing and if prevented by any reason to do so, seek exemption from appearance by filing appropriate application; f) He shall not tamper with the prosecution evidence nor hamper the investigation of the case in any manner whatsoever; and g) He shall not make any inducement, threat or promises to any person acquainted with the facts of the case so as to dissuade them from disclosing such facts to the Court or the Police Office.” 11. Any of the observations, made hereinabove, shall not be taken, as an expression of opinion, on the merits of the case, as these observations are confined only to disposal of the present application. 12. Any of the observations, made hereinabove, shall not be taken, as an expression of opinion, on the merits of the case, as these observations are confined only to disposal of the present application. 12. Registry is directed to forward a soft copy of the bail order to the Superintendent Jail, Model Central Jail, Kanda, District Shimla, H.P., through e-mail, with a direction to enter the date of grant of bail in the e-prison software. 13. In case, the applicant is not released within a period of seven days from the date of grant of bail, the Superintendent Jail, Model Central Jail, Kanda, District Shimla, H.P., is directed to inform this fact to the Secretary, DLSA, Shimla. The Superintendent Jail, Model Central Jail, Kanda, District Shimla, H.P., is further directed that if the applicant fails to furnish the bail bonds, as per the order passed by this Court, within a period of one month from today, then, the said fact be submitted to this Court.