' Muhammad Anwar petitioner seeks post-arrest bail in case F.I.R. No,32 registered on 27-1-2006 under sections 420/ 468/471/472/473/475, P.P.C. At Police Station City Burewala, District Vehari.
2. The allegation as levelled in the F.I.R. Against the petitioner is that he along with his other co- accused prepared bogus Inter Branch. Credit Advice (IBCA); on the basis of which they drew an amount of Rs,44,90,000 from the Bank and as such, while defrauding the Bank as well as the account holder, caused a loss of huge amount to the Bank.
3. Learned counsel for the petitioners submits that there is no incriminating evidence available on record against the petitioner except the statement of co-accused, which is inadmissible in evidence. As such, the case of the petitioner is of further inquiry. Further submits that the petitioner is behind the bars for the last more than 2 1/2 years and his trial has not commenced so far.
4. On the other hand, learned APG for the State has vehemently opposed this petition, contending that the petitioner has caused a huge loss to the Bank through fraud, as such, he is not entitled to the grant of bail.
5. After considering the arguments and having gone through the record, it is noted that the petitioner is behind the bars for the last more than two and half years but his trial has not even commenced so far. As far as the allegation for withdrawal of amount against bogus cheques is concerned, learned law officer has failed to point out any incriminating material to connect the petitioner with the commission of offence. As regards the statement of his co-accused, the veracity of the same would be determined by the learned trial Court. In view of the fact that the petitioner is behind the bars for the last more than 2-1/2 years without the trial being commenced so far and that no incriminating material being available on record to connect the petitioner with the commission of the offence except the sole statement of his co-accused, the veracity of which, as noticed earlier, is yet to be determined, the question as to the guilt or innocence of the petitioner requires further inquiry within the meaning of subsection (2) of section 497 Cr.P.C., we are inclined to allow his petition and admit the petitioner to bail subject to furnishing bail bond in the sum of rupees five lacs with two sureties each in the like amount to the satisfaction of the learned trial Court.