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This is third bail application filed by the applicant under Section 439 of the Cr.P.C. for grant of regular bail relating to FIR No. 102/2020 dated 23.7.2020 registered at Police Station-Ishanagar, District Chhatarpur for the offence under Sections 420, 406, 467, 468, 120-B of IPC and Section 76 of Chit Fund Act. He is in detention since 8.7.2021.

His earlier two bail applications were dismissed on merits vide order dated 21.10.2021 passed in M.Cr.C. No.38092/2021 and order dated 25.2.2022 passed in M.Cr.C. No.5173/2022 As per the prosecution case, the applicant and co-accused persons, who were Director, Manager, Employees and Agents of Pincon Group of Company had collected huge amounts from innocent persons assuring them that they would get handsome returns after the stipulated period. However, they did not pay the money even after the maturity period. On the other hand, they closed down the company office. Thus, they cheated innocent people. The specific allegation against the applicant is that he was the agent of the Company and he induced the innocent investors to deposit the money with the company and also collected money from them.