Plea bargaining allows an accused person to plead guilty in exchange for a reduced punishment. It aims to reduce criminal case backlogs and expedite case resolution. Plea bargaining is permitted for offenses carrying a maximum sentence of 7 years, except for certain offenses affecting socio-economic conditions or vulnerable groups. The process involves the accused filing an application, negotiations between prosecution and defense, and the court approving or rejecting a mutually agreed disposition. Plea bargaining provides benefits like quicker resolution, compensation for victims, and reduced charges for the accused.