Jammu and Kashmir High Court Grants Bail to Nagraj V in Economic Offence Case

Court Upholds Principle of "Bail is the Rule and Jail is the Exception," Imposes Stringent Conditions

In a significant ruling, the Jammu and Kashmir High Court, presided over by Justice Sanjay Dhar, has granted bail to Nagraj V, accused in multiple economic offence cases, including allegations of cheating and fraud. The decision comes after the petitioner had been in custody for over 1.5 years, facing charges under various sections of the Indian Penal Code, including 420 (cheating), 467 (forgery), and 120B (criminal conspiracy).

The court emphasized the well-established principle in criminal jurisprudence that "bail is the rule and jail is the exception," arguing that the mere pendency of multiple FIRs against an accused does not automatically disqualify them from obtaining bail. The High Court noted that despite the serious nature of the accusations, including multiple cases of economic offences, there was no statutory bar to granting bail.

The court outlined several conditions for the bail, including the execution of a bond with solvent sureties, surrender of the passport, restricted travel, and the requirement for the petitioner to provide complete address details to the court and prosecuting agency. The court also highlighted the importance of not punishing an accused without trial, especially when the chargesheet has already been filed and the trial is ongoing.

Justice Dhar further stated that the bail conditions imposed would ensure the petitioner's availability for trial and prevent any tampering with evidence. The court's decision reflects a balanced approach, considering both the gravity of the offences and the accused's right to a fair trial, including the ability to contest related legal proceedings, such as complaints under the Negotiable Instruments Act for cheque bounce cases.

The ruling acknowledges the concerns raised by the prosecution regarding the accused's criminal antecedents but maintains that each bail application must be considered based on its individual merits and circumstances.

Bottom Line:

Grant of bail in cases involving economic offences is not barred merely due to the nature of the offence or pendency of multiple FIRs against the accused. The principle "bail is the rule and jail is the exception" must be upheld, with stringent conditions imposed to address concerns of the prosecution.

Statutory provision(s): Section 483 BNSS, Sections 420, 467, 468, 471, 419, 120B of IPC, Section 138 of Negotiable Instruments Act

Nagraj V v. UT of J&K, (Jammu and Kashmir)(Srinagar) : Law Finder Doc Id # 2814016