ASHOK GOYAL Vs. STATE OF M P

JUDGEMENT

(1.) This is the first application filed by the applicant under Section 439 of the Cr.P.C. for grant of bail.

(2.) The applicant is in custody since 18.9.2014 in connection with Crime No. 372/2014 registered at P.S. Nishatpura, District Bhopal for the offences punishable under Sections 420, 120 -B read with Section 34 of the IPC.

(3.) As per prosecution, it is alleged against the applicant that he being the President and owner of Panchsewa Grih Nirman Sahkari Sanstha Maryadit entered into a joint venture agreement with Niho Constructions Company to develop and sell the Duplexes to be constructed on the said land. It is further alleged that the Niho Construction Company had deposited money for construction of houses from different persons but did not construct the houses, in this way they deceived the complainants and other persons. The allegation against the applicant is that he being the partner in joint venture agreement, is involved in the conspiracy to deceive the complainants and other persons.