Madhya Pradesh High Court
Anil Jain vs The State Of Madhya Pradesh on 21 October, 2021
Author: Rajeev Kumar Dubey
Bench: Rajeev Kumar Dubey
1 MCRC-38092-2021
The High Court Of Madhya Pradesh
MCRC-38092-2021
(ANIL JAIN AND OTHERS Vs THE STATE OF MADHYA PRADESH)
Jabalpur, Dated : 21-10-2021
Heard through Video Conferencing.
Shri Sanjay Sharma, learned counsel for the applicants.
Shri Pradeep Dwivedi, learned PL for the respondent/State.
Heard with the aid of case diary.
This is first bail application filed under Section 439 of Cr.P.C.
Applicants were arrested on 08.07.2021 in connection with Crime No.102/2020 registered at Police Station Ishanagar, District Chattarpur for the offence punishable under Sections 420, 406, 467, 468 120-B of IPC and Section 76 of Chit Fund Act.
As per the prosecution case, the applicants and co-accused persons, who were the Director, Manager, Employees and Agents of Pincon Group of Company had collected huge amounts from innocent persons assuring them that they would get handsome returns after the stipulated period. However, they did not pay the money even after the maturity period. On the other hand, they closed down the company office. Thus they cheated innocent people. The specific allegation against the applicants are that the applicants were the Agent of the said company and they induced the innocent investors to deposit the money with the company and also collected money from them.
Learned counsel for the applicants submits that the applicants are innocent and have falsely been implicated in the offence. The offence was committed by the co-accused Manoranjan Rai, Chairman of the company The applicants are merely the agent of the company. The amount collected by the applicants was deposited by them in the company's account. The applicants have been in custody since 08.07.2021. Charge-sheet has been filed and the conclusion of the trial will take time. Hence prayed for release of the applicants on bail.
Signature Not Verified SANLearned counsel for the State opposed the prayer and submitted that Digitally signed by MANOJ NAIR Date: 2021.10.23 17:34:52 IST 2 MCRC-38092-2021 the applicants and other accused persons played fraud upon innocent investors and deprived them of their hard-earned money. Sufficient evidence is available on record to connect the applicants with the offence in question, so they should not be released on bail.
In the case diary statement of Shekh Ansar, Rajendra Gupta, Shekh Iqbal, Deepak Agarwal, Ganesh Ashati, Yasmeen Khan, Vaibhav Latoriya, Mahesh Agarwal, Imran Khan, Prashant Shivhare, Naresh Sen, Brajkishore Gupta, Babulal Prajapati, Kapil Ashati, Rahul Kori, Ramswaroop Sen, Hardas Joshi, Kamlesh Kori, Shekh Anwar, Rakesh Kushwaha, Ramprasad, Irfan Mansoori and Vandana Ashati, it is mentioned that applicants induced them to deposit money in the company and also collected money from them. So, looking to the allegations and the enormity of fraud, this Court is not inclined to grant bail to the applicants, at this stage.
Hence, the application is rejected.
(RAJEEV KUMAR DUBEY) JUDGE mn Signature Not Verified SAN Digitally signed by MANOJ NAIR Date: 2021.10.23 17:34:52 IST