Calcutta High Court (Appellete Side)
Chandra Shekhar Sabat vs Securities And Exchange Board Of India on 15 November, 2022
15.11.2022
Sl.No. 16
Ct. 03
Amalranjan
IN THE HIGH COURT AT CALCUTTA
CRIMINAL MISCELLANEOUS JURISDICTION
APPELLATE SIDE
CRM (DB) 3211 of 2022
Chandra Shekhar Sabat
Vs.
Securities and Exchange Board of India
In Re: An application for bail under Section 439 of the Code
of Criminal Procedure, 1973.
In Re: Chandra Shekhar Sabat ...Petitioner (In Jail)
Mr. Jaydeep Biswas
... for the petitioner
Mr. Rajib Ray
..... for the SEBI
The petitioner was allegedly involved in a ponzi scam.
He is the principal accused. Out of six accused five of them
are enlarged on bail.
The petitioner is in custody for one year 11 months 8
days. Investigation is complete.
We only observe that the trial be concluded as
expeditiously as possible. In the meantime, this is a fit case
where the petitioner should be enlarged on bail.
The petitioner will be enlarged on bail upon
furnishing a bond of Rs. 10,000/- (Ten Thousand) with two
sureties of like amount each, one of whom must be local, to
the satisfaction of the learned Judge, 5th Special Court at
Kolkata on the following conditions:
2
1.The petitioner shall deposit his passport, if he has any, with the investigating officer,
2. He shall report before the said officer as and when summoned,
3. The petitioner shall not leave the limits of city of Kolkata without informing the Authorised Officer of SEBI,
4. He shall not intimidate the witnesses and/or tamper with evidence in any manner whatsoever,
5. The petitioner shall attend the court on each and every day of trial, in default, the court shall be at liberty to cancel the bail bond without any reference to this Bench.
The application for bail [CRM (DB) 3211 of 2022] is, accordingly, disposed of."
( Biswaroop Chowdhury, J. ) ( I.P. Mukerji,J. )