JUNAID KHAN JAVED KHAN Vs. STATE OF MAHARASHTRA

JUDGEMENT

(1.) Heard the learned counsel for the applicant, learned APP for the respondent-State and the learned counsel for the interveners.

(2.) The applicant seeks bail in Crime No.458 of 2019, registered with City Chowk Police Station, Aurangabad, for the offences punishable under Ss. 406, 420 read with Sec. 34 of the I.P.C. and Ss. 3 and 4 of the M.P.I.D. Act.

(3.) Learned counsel for the applicant would submit that an advertisement of the applicant's Company on Television made a mess. The advertisement strip of the applicant's Company was running below news on the Television about the fraud played by one Ansar Capital Solution. The investors considered that the Company of the applicant had played a fraud; hence, all the investors started demanding money invested with his Company as per terms of investments. Since he had invested money, he could not arrange to repay the amount. However, to maintain the confidence of the investors, he returned the money to many investors. But that misunderstood news was rapidly spread among the investors. The first informant had lodged a report, so to maintain the trust and confidence of the investors, he returned his invested amount of Rs.25.00 lacs, and they settled the dispute. However, his bad luck did not give up, and his bail was cancelled. He was behind bars. Whenever he was granted temporary bail. He tried his level best and returned Rs.20,75,000.00 and deposited Rs.5,00,000.00 in the Court. As per M.O.U, he never denied returning the money, even to the present intervenors. But, they are demanding exorbitant money.