Madhya Pradesh High Court
Anurag Agrawal vs The State Of Madhya Pradesh on 17 June, 2021
Author: Rajeev Kumar Dubey
Bench: Rajeev Kumar Dubey
1 MCRC-9025-2021
The High Court Of Madhya Pradesh
MCRC-9025-2021
(ANURAG AGRAWAL Vs THE STATE OF MADHYA PRADESH)
Jabalpur, Dated : 17-06-2021
Heard through Video Conferencing.
Shri Amitabh Gupta, learned counsel for the applicant.
Shri Vikram Johri, learned P.L. for the respondent/State.
Case diary perused.
This is fourth application filed under Section 439 of the Cr.P.C. for grant of bail. Applicant Anurag Agrawal was arrested on 29/08/2019 in connection with Crime No.20/2018 registered at Police Station S.T.F., Bhopal, District-Bhopal (M.P.) for the offence punishable under Sections 420, 467, 468 and 471 of the IPC and Section 66-D of the I.T. Act.
The earlier bail applications filed by the applicant were dismissed on merit by this Court vide orders dated 28/01/2020 & 28/07/2020 & 9/12/2020 passed in M.Cr.C.Nos.49193/2019, 17067/2020 & 45020/2020.
A s per the prosecution case, co-accused Rupesh Rai and Brajesh Raikwar, who were the business head for the marketing of a cryptocurrency Plus Gold Union Coin (PGUC) in India, in connivance with the applicant and other co-accused persons by organizing seminars in hotels in many cities of India, publishing booklets and through the website assured innocent investors that on purchasing the coin, they would get guaranteed handsome returns within a certain period (at the time of maturity) thereby inducing the innocent investors to invest the money in the scheme, took crores of rupees from innocent investors. Thereafter, under a pre-calibrated move, they started to lower down the price of that coin and lastly at the time of maturity, the value of the coin became zero. Thus, applicant and co-accused persons committed fraud with the innocent investors and embezzled their amount.
Learned counsel for the applicant submits that the applicant is innocent a n d has falsely been implicated in the offence. Although, earlier bail Signature Not Verified SAN applications of the applicant were dismissed on merits by this Court vide Digitally signed by VARSHA SINGH Date: 2021.06.17 16:45:06 IST 2 MCRC-9025-2021 orders dated 28/01/2020 & 28/07/2020 & 09/12/2020 passed in M.Cr.C.Nos.49193/2019, 17067/2020 & 45020/2020 but thereafter Hon'ble Apex Court granted bail to one of the main accused Brijesh Raikwar vide order dated 5/1/2021 passed in Special Leave to Appeal (Crl.) No(s).5211/2020 subject to depositing fifty lakh rupees under protest. Against the applicant it is alleged that the applicant took eight lakh rupess from the innocent investors. The applicant is ready to deposit ten lakh rupees under protest. The applicant has been in custody since 29/08/2019. The charge- sheet has been filed and conclusion of the trial will take time hence, prayed for the release of the applicant on bail.
Learned counsel for the respondent/State opposed the prayer and submitted that the applicant and co-accused Rupesh Rai and Brajesh Raikwar by giving false assurance to the innocent investors that they would get guaranteed handsome return within a certain period (at the time of maturity) on purchasing that coin induced the innocent investors to invest the money in the scheme and took crores of rupees from the innocent investors and embezzled that amount. In the case diary statements of Bharat Tuslani, Prakash Kursija, Vivek Upadhyay, Ashish Jain, Jagdish Budhani, Hirdesh Handa, Gajanand Gore, Praveen Tiwari, Kishore Choudhary, Rajesh Bagadiya, Abhishek Ray and Ritesh Agrawal it is mentioned that they had invested money in the scheme on the advice of the applicant and deposited money in the account of applicant or in the account of other persons at his behest. Thereafter, applicant and co-accused embezzled their money. One other offence is also registered against the applicant at Police Station Kampu, District Gwalior for the offence punishable under Section 420, 467, 468, 471, 120-B of the IPC. The earlier three bail applications filed by the applicant were dismissed on merit by this Court and since then there is no change in circumstance, so he should not be released on bail.
Although, earlier bail applications of the applicant were dismissed on Signature Not Verified SAN merits by this Court vide orders dated 28/01/2020 & 28/07/2020 & 9/12/2020 Digitally signed by VARSHA SINGH Date: 2021.06.17 16:45:06 IST 3 MCRC-9025-2021 passed in M.Cr.C.Nos.49193/2019, 17067/2020 & 45020/2020 but thereafter Hon'ble Apex Court granted bail to one of the main accused Brijesh Raikwar vide order dated 5/1/2021 passed in Special Leave to Appeal (Crl.) No(s).5211/2020 subject to depositing fifty lakh rupees and applicant is also ready to deposit ten lakh rupees under protest, so looking to the contention of learned counsel for the applicant, parity and the fact that the applicant is in custody since 29/8/2019, charge sheet has been filed and conclusion of trial will take time, without commenting anything on the merits of the case, the application is allowed and the applicant is directed to be released on bail subject to depositing a sum of Rs.10,00,000/- in fix deposit in any nationalized bank and on depositing receipt of that F.D. before the concerning Court and on furnishing personal bond in the sum of Rs.50,000/- (Rs. Fifty Thousand Only) with one surety in the like amount to the satisfaction of the concerned C.J.M/trial Court for his appearance before the trial Court on all such dates as may be fixed in this behalf by the trial Court during the pendency of trial.
This order will remain operative subject to compliance of the following conditions by the applicant :
1.The applicant will comply with all the terms and conditions of the bond executed by him;
2.The applicant will cooperate in the trial;
3.The applicant will not indulge himself in extending inducement, threat o r promise to any person acquainted with the fact of the case so as to dissuade him from disclosing such facts to the Court or to the Police Officer, as the case may be;
4.The applicant shall not commit an offence similar to the offence of which he is accused;
5.The applicant will not seek unnecessary adjournments during the trial; and
6.The applicant will not leave India without previous permission of the Signature Not Verified SAN Digitally signed by VARSHA SINGH Date: 2021.06.17 16:45:06 IST
4 MCRC-9025-2021 trial Court.
The amount so deposited by the applicant in fix deposit, shall be subject to final outcome of the case.
Certified copy as per rules.
(RAJEEV KUMAR DUBEY) JUDGE VS Signature Not Verified SAN Digitally signed by VARSHA SINGH Date: 2021.06.17 16:45:06 IST