This order dismissed an application for regular bail under Section 439 Cr.P.C. The court held that the applicant, a company director accused of deceiving over 97,000 depositors and failing to return funds, posed a reasonable apprehension of witness tampering and could not be released.
Bail application filed under Section 439 Cr.P.C. is dismissed.
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NAFR
HIGH COURT OF CHHATTISGARH, BILASPUR
MCRC No. 535 of 2017
---- Petitioner Versus • State of Chhattisgarh Through The Police Station, New Rajendra Nagar, Raipur, District Raipur, Chhattisgarh. ---- Respondent -------------------------------------------------------------------------------------------------For Applicant : Mr. N. Naha Roy, Advocate For Respondent/State : Mr. Ashish Shukla, Govt. Advocate.
Hon'ble Shri Justice Goutam Bhaduri
Order on Board
15-03-2017
cheques got dishonoured. Likewise, the company collected huge amount from different depositors with assurance to double the same within a short period, however, the same was not done and the office of the company was closed. It is further alleged that said circulation was done without obtaining valid permission from the Reserve Bank of India or the SEBI and thereby the aforesaid offence was committed.
hope to get high returns. However, the same is not done and more than Rs.65,21,68,397/- is to be returned to number of depositors.
Sd/- (Goutam Bhaduri) Judge
Raju
1 issue framed by the court
Whether the applicant, a director of a money circulation company involved in fraud and cheque dishonour, should be released on bail.
4 provisions across 4 enactments
Rakesh Tomar
State of Chhattisgarh
Goutam Bhaduri
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
