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In the matter of : An application for bail under section 439 of the Code of Criminal Procedure filed on 26.10.2018 in connection with Khejuri P.S. Case No. 47 of 2017 dated 19.02.2017 under sections 406/409/420/120B of the Indian Penal Code and section 3 of the West Bengal Protection of Interest of Depositors in Financial Establishments Act.

And In the matter of : Binay Singh Mr. Lokesh Sharma Mr. Deepak Prahladka ... ... for the petitioner Mr. Arun Kumar Maity, APP Mr. Sudip Ghosh ... ... for the State Petitioner is in custody for two and half years. Petitioner was a director of M/s. LRN Finance Limited and there is misappropriation to the tune of Rs. 19 lakh in relation to the said company. He is no way connected with the other companies falling within the Pincon Group of Companies. He is ready and willing to deposit a sum of Rs. 19 lakh without prejudice to his rights and contentions.

Learned counsel appearing for the State submits that the accused persons had floated various illegal money circulation schemes through different companies belonging to Pincon Group of Companies and misappropriated monies running to hundreds of crores. Petitioner is a conspirator in the crime and trial is in progress.

We have considered the materials on record. Although it has been contended on behalf of the prosecution that petitioner is also one of the conspirators in misappropriating deposits made through other companies belonging to Pincon Group of Companies, he appears to be a director of M/s. LRN Finance Limited only wherein the alleged misappropriation is to the tune of Rs. 19 lakh. Extent of complicity of the petitioner in the crime may be assessed in the course of trial. However, in the facts and circumstances of the case in light of the undertaking that the petitioner shall deposit a sum of Rs. 19 lakh with the Court below and the protracted period of detention suffered by the petitioner, we are inclined to grant interim bail to him, however, subject to conditions.