Dharmendra Jaiswal vs State of Madhya Pradesh

In pursuance of the directions issued by the Apex Court and guidelines issued by the High Court of Madhya Pradesh in the wake of COVID-19

outbreak, the matter was taken up through video conferencing while adhering to the norms of social distancing prescribed by the Government.

I.A. No.2791/2020, an application filed u/S. 301(2) Cr.P.C. is taken up, considered and allowed for the reasons mentioned therein.

Learned counsel for the complainant is permitted to assist the Public Prosecutor.

Heard learned counsel for the parties.

Case diary perused.

Learned counsel for the rival parties are heard.

The applicant has filed this second application under section 439 of the Cr.P.C. for grant of bail. First application was dismissed as withdrawn vide

order dt.02.03.2020 passed in M.Cr.C. No.6502/2020.

The applicant has been arrested by Police Station- Dehat (Kotwali), District Ashok Nagar in connection with Crime No.493/2019 registered in relation

to the offence punishable under Sections 420, 406, 409, 467, 468, 471, 472, 120-B, 506 of IPC and Section 66 of IT Act.

The allegation against the applicant, in short, is that he alongwith his wife Smt.Ruchi Jaiswal got the shares transferred from DMAT account of the

complainant and sold the same but never transferred the sale proceeds to the account of the complainant.

Learned counsel for the applicant submits that the applicant has been falsely implicated in the case. He is in custody since 08.12.2019. It is further

submitted that charge sheet has been filed, therefore, no further custodial interrogation is required. The applicant has nothing to do with the affairs of

the Arihant Capital Market. The background of the case is that the applicant worked as a sub-broker at the Arihant Capital Market Ltd. Indore

between 2013 to 2015. During that time, brother of the complainant Priyanka Jain opened a DEMAT account in the name of the complainant and

gave the authority letter under Section 2 (h) of the Security and Contract Regulation Act, 1956, which was duly signed by Priyanka Jain (complainant).

All the transactions were duly communicated through electronic mode to the complainant with regard to sale and purchase of shares. No official from

Arihant Capital Market was made an accused in the present case. Learned counsel for the applicant has placed reliance on the judgment of the Apex

Court in the case of Sanjay Chandra Vs. CBI reported in (2012) 1 SCC 4 0to contend that the investigation is complete and charge sheet is already

filed, therefore, the presence of the applicant in the custody may not be necessary for further investigation. Counsel for the applicant submits that in

view of COVID-19, outbreak detention of applicant in already congested prisons may be detrimental. The applicant is the permanent resident of

Indore and there is no likelihood of his absconsion or tampering with the prosecution evidence, if released on bail. It is further submitted that the

applicant with a view to show his bona fide is ready to deposit Rs.5,00,000/- (Rupees Five Lakhs) before the trial court with the condition that till

conclusion of the trial the same may not be disbursed to either of the parties. The applicant is ready to abide by all the terms and conditions as may be

imposed by this Court. With the aforesaid submissions, prayer for grant of bail is made.

Learned Panel Lawyer for the State assisted by the learned counsel for the complainant has opposed the application and prayed for its rejection. It is

submitted that the applicant is the main accused in the case. Charge sheet though filed, but is incomplete. In case the applicant is released on bail, he

would threaten the witnesses. Laptop and other electronic devices are yet to be seized from the applicant. The amount involved is about

Rs.40,00,000/-. In such circumstances, prays for rejection of the bail application.

At this stage, learned counsel for the applicant volunteered to deposit an amount of Rs.25,000/- (Rupees Twenty Five thousand) with Collector Ashok

Nagar, for utilization in preparation of food and its distribution to downtrodden persons including migrant labours, by any Government Agency/NGO in

and round the city of Ashok Nagar.

However, it would not be desirable to enter into the merits of the rival contentions at this juncture.

Considering the overall facts and circumstances of the case coupled with the fact that trial is not likely to conclude in near future and prolonged pre-

trial detention being an anathema to the concept of liberty, this Court is inclined to extend the benefit of bail to the applicant.

Accordingly, without expressing any opinion on merits of the case, this application is allowed and it is directed that the applicant namely â€

Dharmendra Jaiswal be released on bail subject to depositing Rs.5,00,000/- (Rupees Five Lakhs) before the trial court, which shall not be

disbursed to either of the parties till the trial is concluded as well as on his depositing furnishing a personal bond in the sum of Rs.50,000/- (Rupees

Fifty Thousand only) to the satisfaction of the trial Court/committal Court for his appearance on the dates given by the concerned Court.

It is made clear that benefit of bail shall be extended to the applicant only on depositing an amount of Rs.25,000- (Rupees Twentyfive thousand)

with Collector Ashok Nagar and obtaining receipt. The office of Collector shall maintain a separate account (for production of the record as and when

directed for) and utilize the amount so deposited for disbursement of food packets to the downtrodden people including migrant labours in and around

the city of Gwalior through any Government agency/NGO. The applicant shall submit an attested photocopy of such receipt before the concerning

court for placing the same on record.

The applicant shall also furnish a written undertaking before the concerned court that he will abide by the terms and conditions of various circulars, as

well as, orders issued by the Central Government, State Government and local administration from time to time such as maintaining social distancing,

physical distancing, hygiene etc. to avoid proliferation of Corona virus.

This order will remain operative subject to compliance of the following conditions by the applicant :-

The applicant will comply with all the terms and conditions of the bond executed by him.

The applicant will cooperate in the investigation/trial, as the case may be;

The applicant will not indulge himself in extending inducement, threat or promise to any person acquainted with the facts of the case so as to

dissuade him/her from disclosing such facts to the Court or to the Police Officer, as the case may be;

The applicant shall not commit any other offence during pendency of the trial, failing which this bail order shall stand cancelled

automatically without further reference to the Bench.

The applicant shall install Arogya Setu App (if not already installed) in his mobile phone;

The applicant will not seek unnecessary adjournments during the trial; and

The applicant will not leave India without previous permission of the trial Court/Investigating Officer, as the case may be.

Learned Panel Lawyer is directed to send an e-copy of this order to the Station House Officer of the concerned Police Station for information and

necessary action.

E- copy of this order be sent to the trial Court concerned for compliance, if possible by the office of this Court.

Certified copy/e-copy as per rules/directions.