ZUNED ANSARI Vs. STATE OF M.P

JUDGEMENT

(1.) This is the first bail application filed by the applicant under Section 439 of Code of Criminal Procedure, 1973, for grant of bail. The applicant is being implicated in Crime No.59/2020, registered at Police Station - Vijaynagar, Indore, for the offence punishable under Sections 420 , 406 , 467 , 294 , 506 / 34 of IPC.

(2.) The prosecution story in short was that complainant Mohammed Saeed Sheikh, owner of firm Royal Traders filed a complaint dated 19.11.2019 wherein he has alleged that he was the only person authorized to buy scrap from V.E. Industries. He used to sell this scrap to other firms. However, he fell seriously ill in the month of May 2018 and therefore, authorized the applicant to use his I.D. and account for purchasing scrap from V.E. Industries for a sum of Rs.1.05 Crore and this amount was given to the V.E. Industries from the account of firm Royal Traders. However, the accused after obtaining the scrap from V.E. Industries sold it off to other firm and transferred the sale amount to their own firm instead of the firm of the complainant, ie., Royal Traders thereby causing huge loss amounting to Rs.1.05 Crore to the complainant. On the basis of the complaint, investigation ensued and charge sheet was filed on 14.2.2020.

(3.) In the bail application, it has been mentioned that the police authority had appointed one Chartered Accountant namely Shyam Gupta who submitted a detailed report in which it was categorically stated that firm Royal Traders has not suffered any loss and in view of this report, no cheating or forgery of valuable security can be assumed to have been caused by the applicant. It is further stated that balance sheet and statement of accounts of the complainant also shows that no loss accrued to the complainant rather a profit of Rs.12.00 lacs has been shown in the statement of accounts. It is further stated that during the course of investigation, the police authority had also issued a letter to V.E. Industries and V.E. Industries vide their letter dated 21.1.2020, had stated that the complainant himself has obtained the scrap from the aforesaid company and deposited the amount from his bank account through RTGS in the said company. Thus, as per the applicant, the entire transaction was carried by the complainant only which is apparent from the balance sheet which has been filed. It is submitted that the applicant is in jail since 14.1.2020. Hence, it is prayed that he be enlarged on bail.