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Judgment
14 paragraphs · 377 wordsSashikanta Mishra, J
This matter is taken up through hybrid mode.
Heard learned counsel for the petitioners and learned Addl. Standing Counsel for the State.
The petitioners are in custody since 12.10.2023 in connection with Nayagarh P.S. Case No.245 of 2023 corresponding to G.R. Case No.791 of 2023 pending in the Court of learned S.D.J.M., Nayagarh for the alleged commission of offence under Sections 419/420/294/506/34 of IPC.
It is alleged that both the petitioners lured several people to invest in an APP called, APM on the promise of very high returns within a short period of time. Accordingly, the informant and several other persons have deposited substantial amounts being convinced by the petitioners. The petitioners convinced the depositors by holding several meetings but suddenly they are become default on 03.10.2023. The case was therefore, registered against the petitioners. It is submitted that charge sheet having been submitted there is no whisper of the amount allegedly transferred to the account of the petitioners.
Learned State Counsel submits on instructions that huge amount has been transferred to the account of the petitioners even though the same has not been mentioned in the charge sheet.
Be that as it may, after considering the rival submissions and on going through the materials on record including the charge sheet, this Court is of the view that since charge sheet has already been submitted no useful purpose would be served by detaining the petitioners in custody any longer. The bail applications are therefore, allowed. Let the petitioners be released on bail on such terms and conditions as the court in seisin over the matter may deem fit and proper to impose including the following conditions:
(i) They shall deposit their passports if any, before the Court at the time of release.
(ii) They shall furnish property surety of Rs.30 Lakhs each to the satisfaction of the Court below.
(iii) They shall not leave the territorial jurisdiction of the Court without obtaining the leave.
(iv) They shall personally appear before the Court in seisin over the matter on each date of posting of the case and no representation through counsel shall be allowed.
BLAPLs are accordingly disposed of.
Issue urgent certified copy as per rules.
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