ROHIT GAGERNA Vs. STATE NCT OF DELHI

JUDGEMENT

(1.) The applicant/accused seeks regular bail in case FIR No. 11/2025 of Police Station Cyber Central for the offence under Sec. 318(4)/3(5) BNS 2023.

(2.) Broadly speaking, the allegation against the accused/applicant is as follows. On the complaint lodged by one Manish Tandon regarding a financial fraud of Rs.23,75,437.00 in the name of investment in stock market through fake trading application, the FIR was registered. In the course of investigation, 58 fraudulent transactions amounting to the total tune of Rs.23,75,437.00 were discovered. The trail of money led the investigators to find influx of Rs.12,100.00 in the HDFC Bank Account maintained by M/s Storeroom Solution Pvt. Ltd., which is the company registered in the names of Nitin Gagerna (brother of the accused/applicant) and Chetan Rana (friend of the accused/applicant). From that account the amount was transferred to CSB Account in the name of M/s RG Enterprises, which is a proprietorship concern of the accused/applicant. Further scrutiny of the bank accounts revealed multiple inter-account transactions between the said two business entities. Apart from that, the investigation also revealed several high value inter-account transactions between the proprietorship concern of the accused/applicant and a number of first layer bank accounts namely M/s Hi-Tech Trader, M/s Ankit Enterprises, M/s Gupta Enterprises, M/s Madhav Enterprises and M/s Yadav Karyana Store, all of which are linked to the present FIR. The total financial movement recorded by way of investigation came out to be to the tune of Rs.43.33 Crores approximately across a period of six months, indicating large-scale circular fund movement suggestive of concealment, layering and laundering of the proceeds of crime. In the course of investigation, the accused/applicant was arrested and interrogated.

(3.) In the above backdrop, learned counsel for accused/applicant contends that he is innocent and is languishing in jail for past four months merely on account of an inflow of Rs.12,100.00 into his bank account. It is also contended that trial is yet to commence and the same shall take time to conclude.