MUKESH BHARDWAJ Vs. STATE OF NCT OF DELHI

JUDGEMENT

(1.) This is an application under Sec. 439 of the Code of Criminal Procedure, (Cr.P.C.) seeking grant of regular bail filed by the accused/applicant in FIR No.136/2012 under Ss. 406/420/120-B/174-A of the Indian Penal Code, 1860 (IPC) registered at PS Economic Offences Wing (EOW).

(2.) As per record, the FIR was registered on 30/9/2012 on the basis of a complaint under Sec. 156(3) Cr.P.C for the alleged offences committed by one financial company by the name of M/s. Money Bhandar, whereby since May 2009, it was defrauding the public by collecting funds, on the pretext of money back schemes with lucrative interest, after a fixed period of deposit. However, at the time of returning such money, the office of the company was shut down and no such returns were made to the customers. It was alleged that around Rs.32.00 Crores had been collected from around 10,500 investors. It is also alleged therein that the said company, M/s. Money Bhandar introduced another defrauding scheme whereby it had assured the customers of refunding the amounts, provided they joined the new scheme of deposit of money with a new company M/s B. P. Jewellers Pvt. Ltd. Thereafter, the said company issued cheques to the customers, however most of them were dishonoured due to insufficiency of funds.

(3.) Though the applicant was not named in the said FIR, during the course of investigation, he was arrested on 6/3/2021, on the ground that not only is he one of the authorised signatories of the bank account of M/s B.P. Jewellers Pvt. Ltd. in which the deposits from the customers were received, but he is also one of the two directors of the said company M/s Money Bhandar. Thereafter, he was released on interim bail vide order dtd. 19/5/2021 in terms of the High Powered Committee (HPC) Guidelines till 7/4/2023, on which date he surrendered.