RAJESH JAIN Vs. STATE (THR LD APP)

JUDGEMENT

(1.) By the present application, petitioner Rajesh Jain seeks regular bail in FIR No. 205/2016 registered at PS Crime Branch for offences punishable under Sections 406/409/420/468/471/188/120B IPC. Sections 467/109/ 201/34 IPC and Section 7/8/11/12/13 of Prevention of Corruption Act, 1988 were also added during the course of investigation.

(2.) Brief conspectus of facts as per FIR No. 205/2016 are that on 8th November, 2016 pursuant to the demonization of one thousand and five hundred rupees currency notes announced by the Government of India, Raj Kumar Goel conspired with Ashish Kumar, Bank Manager of Kotak Mahindra Bank, one Chartered Accountant and one mediator who used to bring money to the bank to earn huge profits by converting black money in the form of old demonetized currency into new currency notes. The alleged mediator was offered commission on all such transactions. Raj Kumar Goel, having bank accounts in Kotak Mahindra Bank, Naya Bazar Branch, deposited old currency notes in Kotak Mahindra Bank, Connaught Place Branch pursuant to the instructions of the chartered accountant and Ashish Kumar. Thereafter, the bank manager issued demand drafts in the name of Sunil Kumar, Seema Bai, Dinesh Kumar and others against the cash deposited. It was further alleged that various bank accounts were opened in the name of various companies on the basis of forged and fabricated documents and approximately Rs.25 crores had been deposited by the accused persons in these companies after demonetization. Thus, the new currency, which was to be delivered to the general public in regulated manner, has been misappropriated by the accused persons for illegal monetary gains.

(3.) On 24th June, 2017, the main charge sheet was filed against six accused persons namely Rohit Tandon, Raj Kumar Goel, Ashish Kumar, Kamal Jain, Dinesh Bhola and Ramesh Bhola. Thereafter, the first supplementary chargesheet was filed against Yogesh Mittal on 13th October, 2017. Petitioner Rajesh Jain was arrested on 28th November, 2017 and after the completion of investigation qua the petitioner, secondary supplementary charge sheet was filed on 25th January, 2018 under Sections 420/188/109/120B/34 IPC and Section 12 of Prevention of Corruption Act, 1988 against the petitioner.