RABIN BHATACHARYYA, J. - (1.) THE petitioner claiming himself to be a Non - Executive Director of a domestic enterprise known as Peerless Shiping and Oil Fields Services Ltd. has sought for anticipatory bail having reasonable apprehension that he may be apprehended for allegedly committing a non - bailable offence under the Foreign Exchange Regulation Act, 1973.
(2.) HOWEVER , to get a grip to the core controversy behind the claim of anticipatory bail and its denial, a short profile of the case, as we feel necessary, to be set out.
(3.) THE above named company, devoid of Oil Exploration and Expertise by its Board Meeting resolved to participate in the global tender being tender No. RPF/330 floated by Oil India Ltd. for charter hire of one 2000 HP Drilling Rig at Rajasthan. In the process, the responsible officers of the company were entrusted to compete in the global tender and also to look for a suitable Rig. The company, however, submitted technical bid in late 80's through one M/s. Shova Industries of which one Sri Manash Kr. Mazumdar was the Chief Executive. Mr. Mazumdar was engaged to locate a suitable Rig for the purpose. On being recommended by Mr. Mazumdar, the Pioneer Management Services located a second hand Rig suitable for Oil India Ltd.;