Madhya Pradesh High Court
Subhash M Salian vs The State Of Madhya Pradesh on 3 December, 2019
Author: Rajeev Kumar Dubey
Bench: Rajeev Kumar Dubey
1 MCRC-47831-2019
The High Court Of Madhya Pradesh
MCRC-47831-2019
(SUBHASH M SALIAN Vs THE STATE OF MADHYA PRADESH)
Jabalpur, Dated : 03-12-2019
Shri Amitabh Gupta, learned counsel for the applicant.
Shri Mahendra Choubey, learned G.A. for the respondent/State.
Heard with the aid of case diary.
This is first application under Section 439 of the Cr.P.C. for grant of bail. Applicant Subhash M. Salian was arrested on 24/07/2019 in 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 under Section 66-D of the I.T. Act.
As 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, by organizing seminars in hotels in many cities of India, publishing booklets and through the website assured complainants and other 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 complainants and other innocent investors to invest the money in the scheme and 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 they committed fraud with the complainant and other innocent investors and embezzled their amount. It is alleged that the website which was used by co-accused Rupesh Rai and Brajesh Raikwar for committing fraud was developed by the applicant and he was also involved in the crime.
Learned counsel for the applicant submits that applicant has not committed any offence and has falsely been implicated in the offence. There is no evidence on record to show that applicant was also involved in the crime. The only allegation against the applicant is that he developed the Digitally signed by ANURAG SONI Date: 04/12/2019 17:15:11 2 MCRC-47831-2019 website, which was used by co-accused Rupesh Rai and Brajesh Raikwar for committing fraud. Only on the basis that applicant developed the website, which was used by the co-accused persons for committing fraud, it cannot be said that the applicant was involved in the crime. There is no evidence on record to show that applicant took any money from the amount, which was collected by co-accused Rupesh Rai and Brajesh Raikwar from the innocent investors. The applicant is in custody since 24/07/2019. The charge-sheet has been filed and conclusion of trial will take time, hence prayed for release of the applicant on bail.
Learned counsel for the respondent/State opposed the prayer and submitted that the applicant developed the website and co-accused persons used that website for committing fraud, which clearly shows that the applicant was also involved in the crime, so he should not be released on bail.
Looking to the facts and circumstances of the case and the fact that the only allegation against the applicant is that he developed the website, which was used by co-accused Rupesh Rai and Brajesh Raikwar for committing fraud, but there is no evidence on record to show that applicant instigated any person to invest the amount in Plus Gold Union Coin (PGUC) or took benefit from the amount collected by co-accused Rupesh Rai and Brajesh Raikwar from innocent persons, the applicant is in custody since 24/07/2019, the charge-sheet has been filed and conclusion of trial will take time, without commenting on the merits of the case, the application is allowed and the applicant is directed to be released on bail upon his 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 concerned 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 Digitally signed by ANURAG SONI Date: 04/12/2019 17:15:11
3 MCRC-47831-2019 bond executed by him;
2. The applicant will cooperate in the trial;
3. The applicant will not indulge himself in extending inducement, threat or promise to any person acquainted with the fact of the case so as to dissuade her 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 prior permission of the trial Court.
Certified copy as per rules (RAJEEV KUMAR DUBEY) JUDGE as Digitally signed by ANURAG SONI Date: 04/12/2019 17:15:11