LAXMANSINH RAM SINH DEVASI Vs. STATE OF GUJARAT

JUDGEMENT

(1.) By way of the present petition under Sec. 438 of the Code of Criminal Procedure, 1973, the petitioner has prayed to release him on anticipatory bail in case of his arrest in connection with the FIR registered as Part A C.R. No.8 of 2019 registered with Gandhinagar CID Crime Police Station.

(2.) It is the case of the prosecution in FIR that First Informant is the victim and as per his case, in the year 2013, the first informant shown the opening of the branch of Adarsh Co. Op. Society Limited at opposite complex to his business place and went there understand about the different schemes and thus gave Allure schemes and also given the assurance that if one will invest in the scheme, the amount will be increase at maturity date as per schemes and the investors can withdraw the interest as and when it needed. It is further alleged that after understanding all the schemes the First informant becomes the Agent in the said Society and he and his family members invested in the different schemes and he also brought investment in the society as the Agent and in total Rs.63.00 Lacs in the different schemes of the said society. It is further alleged that in the Year-2018, when the First informant was in need of amount, went to the office of the said society for withdrawal of the amount wherein, the manager namely, Narendrasinh Kushwah told to the First informant that the amount will come from Head office and then started giving fake promises and therefore, the First Informant visited the Ahmedabad branch and also had meeting with the Managing Directors of the said society namely, Rahul Modi and Mukesh Modi and then came to know about the fraud and cheating. It is further alleged that there was investment of the other clients through the present First Informant and thus in total Rs.63.00 Lacs of the First Informant and other customers is invested in the scheme of the Said Society through the First Informant and the said society had committed the offence of cheating and fraud by collecting the money in the head of investment and not returning back to the investor on maturity day and subsequently, said FIR is filed.

(3.) Heard learned advocate Mr. Chitan Patel for the petitioner and learned APP.