C.B.I., Hyderabad Vs B.
Ramaraju and Ors.
O R D E R
We have heard the learned
counsel for the parties at length. This order will dispose of all these criminal
appeals filed by the Central Bureau of Investigation against the orders dated
20.7.2010 and 18.08.2010passed by the High Court of Andhra Pradesh at
Hyderabad by which the respondents herein (accusedNos.1, 2, 3, 7, 8 & 9)
were granted bail. According to the allegations of the appellant, the
respondents - accused are involved in one of the greatest corporate scams of
the commercial world. It has caused a financial storm throughout the country
and the world over. Lakhs of shareholders and others have been duped and the corporate
credibility of the nation has received a serious setback. We are deliberately
refraining from making a detailed observation regarding the conduct of the
respondents - accused because the trial is still pending and we do not want the
trial to be prejudiced in any manner. Ordinarily this Court would be slow in cancelling
the bail already granted by the High Court but in the extraordinary facts and
circumstances of these cases, we are of the considered view that the impugned
orders passed by the High Court granting bail to the respondents, cannot be sustained
in law and the same are accordingly set aside. The respondents - accused are directed
to surrender on or before 10th November, 2010, otherwise the appellants shall take
appropriate steps in accordance with law. We are informed that charges have
been framed on 25th October, 2010 and trial is scheduled to commence with
effect from 2nd November, 2010. In these circumstances, we deem it appropriate
to direct the Trial Court to take up the case on day-to-day basis and conclude
the trial of this case as expeditiously as possible, in any event, on or
before 31st July, 2011.
The Trial Court would
avoid granting any undue adjournments, unless it becomes absolutely
imperative. The Trial Court is directed to decide the case without being
influenced by any observations made by the High Court or by this Court in this
order. The parties are directed to examine only material and most essential witnesses
and fully cooperate with the Trial Court. The accused shall be produced before
the Trial Court on time, on every date of hearing, unless
exempted by the orders of the Court. The High Court of Andhra Pradesh is requested
not to transfer the notified judicial officer until the trial is concluded. In
case, the trial is not concluded for any reason before 31st July, 2011, the
respondents would-be at liberty to approach the Trial Court for grant of bail.
We have no doubt that the concerned Court would decide the bail application, if
filed, expeditiously in accordance with law. With these observations and
directions these appeals are disposed of.