2G Update SC grants bail to 5 Corporate Honchos Battery of Senior Counsels appear

The Supreme Court today morning at 10:30 am, granted bail to the five corporate honchos in the 2G spectrum scam case, one of the biggest corruption scam that had rocked the nation..The Supreme Court today morning at 10:30 am, granted bail to the five corporate honchos in the 2G spectrum scam case, one of the biggest corruption scam that had rocked the nation..The Division Bench comprising of Justices G.S Singhvi and H.L Dattu granted bail to Unitech‘s Managing Director Sanjay Chandra, Swan Telecom’s Director Vinod Goenka and to three Reliance ADAG executives – Gautam Doshi, Hari Nair and Surendra Pipara on the condition of furnishing two sureties of Rs. 5 lakh each..Sanjay Chandra was represented by Senior Counsel Ram Jethmalani on instructions from Amarchand Mangaldas, Senior Advocate Mukul Rohatgi appeared for Vinod Goenka, Hari Nair and Surendra Pipara were represented by Senior Advocate Ashok H. Desai while Senior Advocate Soli J. Sorabjee appeared for Gautam Doshi..This is the first verdict on bail petitions by the apex court after the trial court framed charges against all accused..The five corporate executives had been lodged in the Tihar Jail for over six months along with the other accused involved in the 2G Scam. Judge O.P Saini had sent 5 telecom honchos to jail rejecting their interim bail application..Reliance ADAG Executives have been charged with cheating, abetment to cheating, criminal conspiracy, criminal conspiracy for criminal breach of trust, forgery, accepting bribe/illegal gratification and misuse of office..Vinod Goenka has been charged with criminal conspiracy, cheating, abetment of illegal gratification and forgery while sanjay Chandra is charges with criminal conspiracy, criminal breach of trust, cheating, forgery, accepting bribe/illegal gratification and misuse of office..The Defense counsels argued before the Supreme Court that there was no prima- facia case, no documents to suggest cheating or forgery against them. Even if a prima facia case exists, bail is the rule and denial of it is an exception..They further argued that the accused have no criminal past and had all along cooperated with the CBI during the investigation in the case..They also stated that the investigation in the case is over, charge sheets have been filed against the accused and they are no longer needed for further investigation hence they should be released on bail..Senior Counsel Ram Jethmalani also argued that personal liberty is at a high pedestal in our Constitutional System and the same cannot be meddled with in a casual manner..However, opposing the bail pleas, the CBI counsel Additional Solicitor General Harin Raval argued that one of the relevant considerations for the grant of bail, is in the interest of the society at large as opposed to the personal liberty..The Court in its order said, “We are conscious of the fact the accused are charged with economic offences of huge magnitude and that the offences alleged, if proved will jeopardize the economy of the country. At the same time we cannot lose sight of the fact that the investigation agency has already completed investigation and the charge sheet is already filed before the Special Judge. Therefore, their presence in the custody will not be necessary for further investigation.”.The Supreme Court also directed the accused that they cannot travel abroad and must deposit their passports. They have also been prohibited from meeting any witness..The apex court however, made it clear that CBI can approach the Supreme Court if any of them is found misusing his liberty..DMK MP Kanimozhi and former telecom minister A. Raja must be feeling relieved and hopeful after hearing the Supreme Court order of granting bail to five corporate executives..A few hours after the Supreme Court order, Kanimozhi, Kaliagnar TV MD Sharad Kumar and the film producer Karim Morani moved the Delhi High court for early hearing of their bail plea, reports TOI. The bail application of Kanimozhi and four others is listed before the Delhi High Court for December 1, 2011.