AJAY KHERA Vs. STATE OF GNCTD

JUDGEMENT

(1.) By this petition regular bail is being sought for the petitioner in FIR No.14/2022 lodged under Sec. 408/420/467/468/471/120B IPC with PS Economic Offences Wing. The petitioner is a senior citizen of 67 years of age and has been in custody since 23/9/2022. Charge sheet has been filed on 19/12/2022.

(2.) As per the case of the prosecution, M/s. Seagull Maritime Agencies Private Limited (Complainant Company / Seagull) deals in the Freight Forwarding business in India and had started a branch in USA in 2010. It was alleged that the petitioner (an ex-employee of a group company) who was working with the Seagull as a legal consultant, requested the ex-promoters of Seagull to employ his son Siddharth Khera to look after the USA branch of Seagull. Accordingly, Siddharth Khera was appointed as Business Development Manager at the USA branch of Seagull. Seagull's management suspected that its revenue per annum was declining steadily from the highs in 2018 to the severe low in July 2021 and it was revealed that the alleged persons had incorporated two companies viz. Azure Freight and Logistics LLP (in November 2020) and Azure International LLC (in June 2020). They had started a parallel business that was taking away the clientele of Seagull by misrepresentation and forgery. It was alleged under the leadership of the petitioner and his son Siddharth Khera, payments were funneled made by clients of Seagull for shipments to the accounts of Azure International LLC. This apparently was being done by making wrong representations to Seagull clients that Azure is a group company of Seagull and they changed the name of the shipper in the bill of lading from Seagull to Azure. It is alleged that a wrongful loss of approximately Rs.30.00 crores was caused to Seagull.

(3.) An investigation ensued and it was revealed that Siddharth Khera was indeed the Director of Azure International LLC and had been in employment of Seagull up to 30/6/2021. He submitted his resignation on 1/7/2021. Azure International LLC was incorporated in the month of June, 2020 in which allegedly Siddharth Khera and his wife Shruti Arora were the directors. It is further alleged that in the act of diversion of the business and funds, the ex-employees of Seagull and the present employees of the accused Azure were also actively involved in this conspiracy. The employees were using the IDs of Seagull even after their resignation from it and were using them for placing orders and delivery of consignments. It was further alleged that the amounts which were collected in Seagull's account in the USA were being sent back to India and being collected by the petitioner. As regards the role of the petitioner, it has been alleged that he was serving as Group President in a promoter company - World Window Group, of Seagull and was employed from 1/4/2019 to 31/8/2021. It was alleged that before handing over his laptop to the investigation agencies, the data in the laptop had been deleted. The petitioner had been assigned to provide consultancy services to Seagull.