Summary
The Court granted regular bail in the INX Media money-laundering case after considering the completed period of custodial interrogation, absence of demonstrated flight or interference risks, age, illness and other circumstances. Gravity of economic offences remained relevant beyond the usual triple test, but did not require automatic refusal. The High Court should not have converted allegations or sealed-cover material into findings of guilt. Trial merits and the position of other accused were expressly left open.
Issues
- Whether gravity justified refusal of regular bail despite findings favouring the appellant on flight, evidence-tampering and witness-influence risks.
- Whether reliance on sealed-cover material permitted findings on alleged criminal conduct at the bail stage.
Held
- Gravity, including the nature of financial allegations and prescribed punishment, remained relevant in addition to the triple test. Economic offences did not invariably require denial; bail depended on the circumstances of the particular case. (¶¶ 15, 16, 17, 18, 19, 20, 21, 22)
- A bail court could inspect investigation material to satisfy its judicial conscience but should not record findings of commission of the offence from allegations or sealed-cover documents. The High Court’s findings of that nature were unjustified. (¶¶ 22, 23, 24)
- After over 45 days of availability for custodial interrogation, further investigation could be secured through cooperation conditions. Age, illness, custody duration and the absence of substantiated flight or interference risks supported regular bail. (¶¶ 16, 25)
- Observations touching merits did not determine trial issues. The subsequent clarification also required the cases of other accused to be considered independently. (¶¶ 25, 26)
Result
Appeal allowed; High Court order set aside. Release directed unless required in another case, on Rs 2 lakh bail bonds and two sureties of like sum. Passport to remain deposited; foreign travel requires Special Judge’s permission. Appellant must attend interrogation when required, refrain from evidence-tampering or witness interference, and give no press interviews or public comments concerning this case or co-accused. No costs. Trial merits and other accused’s cases left open.