This application has been filed with the following prayers :-
"(a) This Honourable Court may be pleased to delete condition no.(h) of paragraph 4 of order dated 1st July 2006 passed in Criminal Mis. Application No.6340 of 2006.
(b) This Honourable Court may be pleased to pass such other and further relies as deemed just and proper by this Honourable Court."
Learned Counsel for the applicant submits that the order passed by the competent authority has been challenged by way of filing an Appeal which is still pending. Interim relief was granted by the appellate Court in favour of the applicant herein. The case pertains to a series of transactions and different cases are pending before the Trial Court. It is also submitted that till today the charge has not been framed, the trial has not commenced and it will take a long time for the proceedings to get completed. In addition, it is submitted that the applicant is a businessman, residing with his family at Jamnagar. Besides, he has immovable and movable properties at Jamnagar. He is required to travel to various countries for promotion of his business and considering the above aspect, it is submitted that prayer in terms of Paragraph 7.(a) be granted. It is also submitted that only after obtaining permission from the concerned Trial Court, the applicant will abroad.
Learned Counsel Mr. P.S. Champaneri appearing on behalf of the Union of the India submits that huge amount to the tune of Rs.100 Crores is due to be recovered from the applicant. Notice was also issued for the recovery of the amount of approximately Rs.42.20 Crores, in pursuance of the order passed by the competent authority.
Considering the submissions of the learned Counsel for the applicant and that of Mr. P.S. Champaneri, learned Counsel appearing for the Union of India and considering the fact that in pursuance of the order of bail passed as early as on 01.07.2006, no untoward incident has happened and the applicant has been complying scrupulously with all the conditions, I deem it just and proper to suspend the condition No.4.h) imposed by this Court in Criminal Miscellaneous Application No.6340/2006 for a period of four months, from today and on a further condition that the applicant shall deposit Rs.10,00,000/= (Rupees Ten Lakhs Only) with the Trial Court, after release of the passport.
It is made clear that on his return from abroad, the applicant will surrender his passport immediately before the concerned Trial Court.
Rule made absolute to the aforesaid extent. Direct Service is permitted.
Sd/-
(M.D.
Shah, J.) Caroline Top