SUNIL GROVER Vs. STATE

JUDGEMENT

(1.) The present application has been filed by the petitioner under Sec. 439 of the Code of Criminal Procedure, 1973 for the grant of regular bail in FIR No. 68/2010, Police Station Barakhamba Road, under Ss. 406/409/420/120B of the Indian Penal Code. The allegations levelled against the petitioner/accused are that the complainant approached the petitioner/accused and his father Raman Kumar Grover who said that their company was a member of Multi Commodities Exchange of India Limited (MCX). The accused asked the complainant to deposit atleast Rs. 50,000/ - on which he would get the profit @ 7% per month. The complainant deposited Rs. 1 lakh with the accused. The accused himself managed the portfolio of the complainant. The complainant deposited a sum of Rs. 5,60,000/ - whereas his father deposited Rs. 5,30,000/ - with the accused. The complainant received the payment uptil December, 2009. Thereafter the cheque for a sum of Rs. 39,903.85/ - dated 01.12.2009 and cheque for the month of January, 2010 were dishonoured. It was alleged that the accused persons did not return money; closed their office and fled away with the money. On the basis of complaint made by the complainant, FIR of the present case was registered.

(2.) The petitioner/accused was apprehended by the investors and handed over to the local police of Police Station Paschim Vihar and thereafter he was arrested in the present case. During investigation it was revealed that Raman Kumar Grover was in suspension mode. The MCX has replied that the exchange has received around 79 complaints with the alleged loss of Rs. 1.90 crores. After completion of investigation, charge sheet was filed in the Court.

(3.) The petitioner/accused was arrested on 01.05.2010 and was never granted regular bail.