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The complainant alleged in the complaint petition that investments made by the poor and marginalized investors after 2nd November, 2017 in Patna High Court CR. MISC. No.79435 of 2023(2) dt.13-12-2023 Pincon Securities Limited Broker House in the shape of FD/RD/MIS were misappropriated.

It is submitted by learned counsel for the petitioner that petitioner is innocent and he has falsely been implicated in this case. It is further submitted that nothing specific allegation has been attributed against the petitioner in the entire prosecution story, rather there is general and omnibus allegation against the petitioner. The petitioner was appointed as Director in the alleged but he had resigned from the post of Director in the year 2013. The resignation letter has been annexed as Annexure-P/2 to the petition. The petitioner published a general notice in the daily newspaper dated 24.06.2015 that he has resigned from the companies. The copy of the newspaper has been annexed s Annexure-P4 of the petition. The complainant alleged in the complaint petition that companies had stopped making payment of matured amount from 2nd of November, 2017 and it is on record that petitioner was Patna High Court CR. MISC. No.79435 of 2023(2) dt.13-12-2023 arrested on 03.11.2027 in connection with Special Operation Group Case No. 28 of 2017 and was languishing in Jaipur Jail since then. In such circumstance, if it is assumed that the averments made in the complaint petition are true, even though no offence is made out against the petitioner as the petitioner was in custody since 03.11.2017 and company stopped the payment from 02.11.2017. The petitioner was apprehended on 03.11.2017 in connection with Special Operation Group Case No. 28 of 2017 and remanded in the present case on 17.07.2022 and since then he is in custody.