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Showing contexts for: Pincon in Satyam Agrawal vs The State Of Madhya Pradesh on 4 January, 2022Matching Fragments
Heard with the aid of case diary.
This is the first bail application filed by the applicant Satyam Agrawal under Section 438 of CrPC for grant of anticipatory bail.
The applicant apprehends his arrest in connection with Crime No. 102/2020 registered at P.S. Ishanagar, Distt. Chhatarpur (M.P.) for the offence punishable under Sections 420, 406, 467, 468 and 120-B of IPC and Section 76 of the Chit fund Act,1982.
As per prosecution case, the applicant and co-accused person, who were the Chairman and Agents of Pincon Group of Company, collected huge amount from innocent persons assuring them to double their money within a stipulated period. However, they did not pay the money even after the maturity periods. On the other hand, they closed down the company Office and embezzled the huge amount of innocent people. Thus, they cheated innocent people. The specific allegation against the applicant is that he is the agent of the company and he induced the complainant/other innocent people to deposit the money with the company.
Learned counsel for the applicant submits that the applicant is innocent and has falsely been implicated in this case. Learned counsel for the applicant submitted that though the name of the applicant is mentioned in the FIR and it is mentioned that applicant is the agent of Pincon Group of Company but in the case diary statement of prosecution witnesses recorded by the investigation officer during investigation name of the applicant is not mentioned. There is no document on record to show that the THE HIGH COURT OF MADHYA PRADESH (Satyam Agrawal Vs. State of M.P. ) applicant was the agent of the company or induced any person to deposit money with the said company or he collected any amount from innocent investors. Applicant has no criminal past. Charge sheet has been filed. Applicant is ready to cooperate in the investigation and trial. Custodial interrogation is not required in the matter. In the event of arrest, his reputation will be ruined. Under these circumstances, applicant prays for bail.