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The first bail application of the applicant has been dismissed on merits vide order dated 02.08.2021 passed in M.Cr.C. No. 14713/2021.

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 the agent of the company and he induced the complainant/other innocent people to deposit the money with the company.