A joint bench of Supreme Court Justices Mahesh Sharma Poudel and Shrikant Poudel made this order on Monday.
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The Supreme Court has ordered that businessman Shekhar Golchha be detained until he can provide bail or bail. A joint bench of Justices Mahesh Sharma Poudel and Shrikant Poudel made the order on Monday.
The Supreme Court has asked the court to do so in accordance with Section 104 of the Securities Act. The said section states, "Notwithstanding anything written in the prevailing law, if during the investigation of a case to be held guilty under this Act, there is any reasonable cause to believe that a person who is being prosecuted for an offence under this Act may abscond or disappear, or if it is found that he has suffered loss or damage, the investigating officer in the case under this Act may demand the necessary bail or bail and if such bail or bail is not provided, he may be detained."
However, the court has ruled that the order extending the detention period of 11 Baisakh and 21 Baisakh, stating that according to the legal provisions, the investigating officer has granted permission to keep Golchha in custody for investigation without seeking bail or bail, is null and void.
‘In the case of securities-related offenses, a mandate has been issued to conduct the necessary investigation in accordance with the legal provisions of Section 104 by demanding bail or bail from this petitioner and only in cases where bail or bail cannot be provided, to conduct the necessary investigation by keeping him in custody for investigation,’ the order states, ‘Since a mandate has been issued to this petitioner in accordance with the legal provisions of Section 104, an order for immediate custodial interrogation cannot be issued as per the application’s demand. The application is dismissed to the extent that an order for custodial interrogation is issued.’
The order states that Golchha was not detained for the offence of the Insurance Act, 2079 BS, but was granted permission to issue an arrest warrant for investigation purposes under Section 9(2) of the Civil Procedure Code, 2074 BS, and that there was no allegation in the application in that regard. After this order of the Supreme Court, bail or bail will have to be sought from him on Tuesday. If he can fulfill the demand, he will be released, otherwise he will be sent to prison.
