RAJKUMAR SINGH KUSHWAH Vs. STATE OF MADHYA PRADESH

JUDGEMENT

(1.) This is first bail application filed by the applicant- Rajkumar Singh Kushwah under Section 439 of Code of Criminal Procedure, 1973 for grant of bail in connection with Crime No.03/2020 registered at Police Station-Crime Branch, Indore, District-Indore (MP) for the offence punishable under Sections 418 , 419 , 420 , 406 of Indian Penal Code, 1860 and Section 6 of Madhya Pradesh Nikshepakon Ke Hiton Ka Sanrakshan Adhiniyam, 2000.

(2.) As per prosecution story, the complainant Sushil Kumar lodged a complaint that the applicant, heading a proprietorship firm Advisory Company had taken Rs.5.00 lacs from him assuring that the amount would be invested in such a manner that Sushil Kumar shall get his money back with huge profit margins. However, the complainant was cheated and the applicant committed breach of trust regarding the amount entrusted to him by the complainant who suffered huge losses. During investigation by the Crime Branch, Indore, the Investigating Officer also came across the complaints made by other complainants in Citizen Cop application, whereby these investors were also duped of their life time earnings by the applicant.

(3.) Learned counsel for the applicant submits that applicant is in jail since 06.03.2020 and that charge-sheet has since been filed in the matter, that applicant is a registered Adviser and is a holder of certificate issued by SEBI (Securities and Exchange Board of India) and a copy of which has been annexed by the applicant. Learned counsel also pointed out to the various documents issued by the Firm of applicant namely;