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First bail application of the applicant was dismissed on merits by this Court vide order dated 2/8/2021 passed in MCrC no.14713/2021 and second bail application of the applicant was dismissed for non-compliance of peremptory order dated 8/12/2021 passed by this Court in MCrC no.43044/2021.

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.