Calcutta High Court (Appellete Side)
Rejesh Kumar Jhunjhunwalla vs Unknown on 11 December, 2018
1 31 11.12.2018
rkd Ct. No.28 (Allowed) C.R.M. 9994 of 2018 In Re: - An application for bail under Section 439 of the Code of Criminal Procedure filed on 14/11/2018 in connection with Khejuri P.S. Case No. 47 of 2017 dated 19/02/2017 under Sections 420/406 of the Indian Penal Code read with Section 3 of the West Bengal Protection of Interest of Depositors in Financial Establishments Act.
And In the matter of: Rejesh Kumar Jhunjhunwalla ....petitioner.
Mr. K. Thakker Mr. A. Banerjee, Mr. P. K. Gupta ...for the petitioner.
Mr. Arun Kuamr Maiti, Mr. S. Bardhan ...for the State.
Petitioner is in custody for 280 days and it is submitted that co-accused Lalita Saraogi has been granted bail.
Report is placed on record wherefrom it appears that no amount was collected illegally from the public by ASK Financial Services Ltd. during the directorship of the petitioner. However, his resignation was received by ROC belatedly on 26.04.2013.
From the factual matrix of the case it appears that the petitioner stands on the same footing as the co-accused Lalita Saraogi who has been enlarged on bail by us. Ordinarily, delay in furnishing the resignation letter to ROC would have persuaded us to draw an adverse conclusion that the petitioner had generated a fiction of severance from an anterior point of time. However, in view of the fact that there was a contemporaneous change in the ownership and management of the company at the material point of time from the hands of the petitioner and co- accused Lalita Saraogi on the one hand to the Pincon Group on the other hand, we are inclined to grant bail to the petitioner.
Let the petitioner be released on bail upon furnishing a 2 Bond of Rs. 10,000/- with two sureties of like amount each, one of whom must be local, to the satisfaction of the Learned Chief Judicial Magistrate, Purba Medinipur at Tamluk subject to the condition that during bail he shall appear before the learned trial court regularly till disposal of the trial and he shall not intimidate witnesses or tamper with evidence in any manner whatsoever and on further condition that he shall not leave the State of West Bengal without the leave of the trial court until further orders.
In the event the petitioner fails to comply with the conditions as enshrined hereinbefore, it is open to the trial court to cancel the bail without any further reference to this Court.
The application for bail is, thus, disposed of. (Ravi Krishan Kapur, J.) (Joymalya Bagchi, J.)