Vipin Yadav Vs Directorate of Enforcement (Delhi High Court)
Delhi High Court held that bail application in case of money laundering and fake investment scheme allowed on account of delayed trial and there being no possibility of the trial concluding in the near future.
Facts- The present applications are filed by the applicants seeking regular bail in ECIR/HIU-1/7/2024 dated 28.03.2024 registered by the Directorate of Enforcement. The ECIR finds its genesis from the two cases registered by the Central Bureau of Investigation in respect of predicate offences being RC No. 2212022E0041 dated 26.08.2022 registered under Sections 420/120B of the Indian Penal Code, 1860 and Sections 66C/66D of the Information Technology Act, 2000 and RC No. 2212023E0036 dated 27.12.2023 registered under Sections 403/420/120B of the IPC and Section 66D of the IT Act.
It is alleged that the accused persons duped and cheated the Indian citizens for a sum of ₹641 crores, in the name of fake investment schemes false jobs and other similar activities.
Conclusion- It is not just the period spent in incarceration but also the possibility of delayed trial that is to be seen by the Court. As the trial is yet to commence in the predicate/ scheduled offence and the matters are at a preliminary stage with the investigation still being in process, speedy trial in the present case does not seem to be a possibility. The applicants are stated to have no previous criminal involvements, and they are unlikely to commit any offence whilst on bail.
