ROWEENA SHARMA Vs. STATE

JUDGEMENT

(1.) On 19.4.1999 a complaint was filed with the Police Station Greater Kailash-1 against Kuber Group of Companies and their officials. On the basis of the complaint an FIR was registered under Sections 406/409/420/120,IPC. In the complaint it is stated that the officials of the Kuber Group of Companies approached the complainants and asked them to keep their personal savings as fixed deposits in the various schemes launched by the aforesaid Group. The further allegation in the complaint is that the officials of the Kuber Group of Companies persuaded them to influence their relatives and friends to keep their savings in fixed deposit schemes of Kuber Group of Companies. It is also averred that representations were made to the effect that the Kuber Group of Companies were doing extremely well. Acting upon the aforesaid representations, deposits were made by the complainants in October, 1988. When the deposits were at the stage of maturity, the concerned office of Kuber was shut down at Buland Shahar. Since the complainants were not able to contact anyone at Buland Shahar, they approached the Head Office of the company at Greater Kailash. The company handed over a few cheques to the complainants in lieu of the deposits but the cheques were dishonoured by the concerned Bank(s) with the remark "funds not arranged for".

(2.) Pursuant to the registration of the FIR, the petitioner, who is the wife of the Chairman of the various Kuber Group of Companies and a Director of Kuber Mutual Benefits Limited, which has its registered office in Kanpur was arrested and is in judicial custody. It is not disputed on either side that the FIR in the instant case has culminated in the filing of a charge sheet. The petitioner moved an application before the Trial Court for seeking bail. The Metropolitan Magistrate by his order dated 10.9.1999 granted interim bail to the petitioner for a period of one month on her furnishing a personal bond in the sum of rupees one lakh with two sureties of the like amount for the purpose of enabling her to make efforts to make payment to the investors. In the meantime various Criminal Courts issued production warrants requiring her attendance in connection with the investigation of cases registered against her. Petitioner apprehending that she will not be released despite the order of the Metropolitan Magistrate dated 10.9.1999 granting interim bail to her, filed the instant writ petition for grant of the following reliefs:

(3.) In reply to the petition, Mr. Kewal Singh, Deputy Commissioner of Police, Headquarters filed an affidavit. As per the affidavit, the Kuber Group had floated a number of companies for collecting money from the investors. Till date more than 739 complaints have been received against Kuber Mutual Benefits Limited, Kuber Planters, Kuber Buildwell Ltd., Kuber Auto General Finance & Leasing Ltd. and Kuber Media Ltd. in Crime Branch. According to the affidavit several crores of rupees are involved in the transactions. In another affidavit filed by the Superintendent, Central Jail No.1, Tihar it is pointed out that production warrants have been issued for the attendance of the petitioner in four cases under Section 138 of the Negotiable Instruments Act, 19 cases under different provisions of the Indian Penal Code some of which are under Sections 409/420,IPC and some are under Sections 406/420/467/468/120-B,IPC as on 23.9.1999.