G. S. RAGHAV Vs. STATE OF U. P.

JUDGEMENT

(1.) Heard Shri Rahul Chaudhary, learned counsel for the applicant/informant, learned A.G.A. for the State-respondent, and perused the records.

(2.) The instant application has been preferred by the applicant/informant- G.S. Raghav, seeking cancellation of bail of the accused/opposite party no.2- Aditya Goel, in Case Crime No.1889 of 2018, under Sec. 420, 406, 409 and 120B IPC, Police Station Kavi Nagar, District Ghaziabad, who was enlarged on bail by a co-ordinate Bench of this Court in Criminal Misc. Bail Application No.40534 of 2019, titled Aditya Goel v. State of U.P.

(3.) Succinctly, the prosecution case is that the accused/opposite party no.2 is associated with a company facing serious allegations of embezzling funds amounting to Rs.2,45,30,623.00. The gist of the accusation is that Earth Iconic Infrastructure Limited is a wholly owned subsidiary company of Earth Infrastructure Limited, where the father and other relatives of opposite party no.2 (the accused) serve as Directors and induced the petitioner/complainant to invest in their company with promises of substantial return in the phased manner. Additionally, the accused issued 41 post-dated cheques of Rs.75,21,059.00 each, intended for monthly deposit and clearance. However, 13 out of these cheques were dishonoured. During the investigation, it was revealed that the accused company failed to fulfil its promise of construction and did not refund the invested amount to the innocent investors.